Few trading ideas by Religare Securities for Tuesday's trade:
Colgate Palmolive (India) Limited (COLPAL)
Rec: BUY
Last Close: Rs 1080.45
Initiation range: Rs 1060-1070
Target: Rs 1120
Stoploss: Rs 1040
COLPAL has retraced marginal from its record high and found support near to medium term moving average on daily chart. Also, it has formed a fresh buying pivot and looks all set for fresh surge ahead. Traders are advised to initiate fresh longs in the given range.
Bank of India (BANKINDIA)
Rec: SELL AUG FUTS
Last Close: Rs 138.90
Initiation range: Rs 142-144
Target: Rs 126
Stop loss: Rs 150
In line with other PSU banking counters, BANKINDIA has been trading under pressure and