Top stock calls by Religare Broking: Buy Century Textiles, Bata, LIC HFL

Here are the weekly stock recommendations by Religare Broking.

Century Textiles & Industries Limited

Recommendation: Buy

Last Close: Rs 937.65

Initiation range: Rs 934-938

Target: Rs 975

Stop loss: Rs 915

Century Textiles has retraced marginally of late and formed a strong base around the support area of multiple moving averages ribbon on daily chart. The current chart formation combined with positioning of confirmation indicators is pointing towards fresh surge ahead. We advise creating fresh longs within the given range.

Bata India Limited

Recommendation: Buy

Last Close: Rs 1,413.50

Initiation range: Rs 1,405-1,410

Target: Rs 1,480

Stop loss: Rs 1,375

After retesting its support zone around Rs 1,305, the stock has swiftly rebounded of late and is gradually heading towards its record high. Also, it has completed the formation of a fresh buying pivot and holding firmly above the support zone of short-term moving averages. We suggest traders to initiate fresh longs position as per the mentioned levels.

LIC Housing Finance Limited

Recommendation: Buy

Last Close: Rs 550.15

Initiation range: Rs 540-545

Target: Rs 575

Stop loss: Rs 530

LIC Housing Finance has been rebounding for the last eight months, after sharp correction from its record high. It has retraced marginally of late and reached closer to the immediate support zone around Rs 525. The chart pattern combined with positioning of confirmation indicators is adding to the positivity. We advise accumulating within the given range.

Larsen & Toubro Limited

Recommendation: Buy

Last Close: Rs 1,535

Initiation range: Rs 1,535-1,540

Target: Rs 1,610

Stop loss: Rs 1,505

Larsen & Toubro, after making a record high, has been consolidating in a range while holding firmly above the support zone of multiple moving averages on daily chart. It has witnessed a marginal pause, offering fresh buying opportunity. We suggest traders to create fresh longs as per the given levels.

=============================

Disclaimer: The brokerage may have positions in any or all the stocks mentioned above.

https://bsmedia.business-standard.comwww.religareonline.com/disclaimer