Stock calls by Religare Broking: Buy ITC, Marico; sell ICICI Bank futures

Here are the weekly stock recommendations by Religare Broking

ITC Limited

Recommendation: Buy

Last Close: Rs 303.40

Initiation range: Rs 302-303

Target: Rs 318

Stop loss: Rs 296

After a strong rebound from Rs 268 to Rs 310 levels, ITC has retraced marginally of late and has reached closer to the support zone around Rs 300 levels. Considering the current market scenario and existence of support zone of moving averages, it’s advisable to prefer defensive stocks for buying. Traders can initiate fresh longs as per the mentioned zone.

Marico Limited

Recommendation: Buy

Last Close: Rs 363.10

Initiation range: Rs 355-357

Target: Rs 375

Stop loss: Rs 345

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