Technical calls by Religare Broking: Buy L&T, Sell Canara Bank Futures

Here are the top trading ideas by Religare Broking.

Larsen & Toubro
 

Recommendation: Buy

Last Close: Rs 1366.60

Initiation range: Rs 1360-1365

Target: Rs 1415

Stop loss: Rs 1340

LT has been holding strongly above the support zone of multiple moving averages on the daily chart and looks all set for a fresh up move. The chart pattern combined with indication from oscillators is also adding to the positivity. We advise initiating fresh longs as per the mentioned levels.

Voltas 

Recommendation: Buy

Last Close: Rs 601.45

Initiation range: Ra 597-602

Target: Rs 635

Stop loss: Rs 585

The stock, after the recent surge, has been consolidating in a range for last two months while forming a strong base around 50 day