Top trading ideas by Religare Broking:
Amara Raja Batteries
Rec: BUY
Last Close: Rs 847.35
Initiation range: Rs 835-845
Target: Rs 910
Stop loss: Rs 810
Amara Raja Batteries has been witnessing consolidation in a broader range i.e. 700-900 for last two years. It tested the lower band of the same in July 2018 and rebounding gradually since then. Today i.e. August 14, it has surged strongly with the decent rise in volume and ended near day’s high. All indications are in the favour of retesting upper band of the consolidation range or even surpassing the same this time.
We advise accumulating fresh in the given range.
Dewan Housing