Technical calls by Religare Broking: Buy Dr Reddy's Lab, Ramco Cements

Weekly Technical Recommendations by Religare Broking Ltd.

Buy Dr. Reddy's Laboratories Limited

Last Close: Rs 2,815.70
 

Initiation range: Rs 2,790-2,800
 

Target: Rs 2,960
 

Stop loss: Rs 2,710
 

DRREDDY has been consolidating in a range while holding firmly above the support zone of moving averages ribbon (50, 100 and 200 EMA) on the multiple time frames. Indications are now in the favor of breakout ahead. We advise initiating fresh longs in the given range.

Buy The Ramco Cements Limited

Last Close: Rs 791.05
 

Initiation range: Rs 775-785

Target: Rs 840
 

Stop loss: Rs 760
 

RAMCOCEM has formed a cup and handle pattern (which generally act as a continuous pattern)