Three trading ideas by Ajit Mishra: Buy Adani Ports, Federal Bank; sell DRL

We're seeing noticeable traction in the banking pack and Federal Bank has recently witnessed a breakout from a consolidation range

Adani Ports and Special Economic Zone Limited

Recommendation: Buy

Last Close: Rs 792.25

Initiation range: Rs 770-780

Target: Rs 840

Stop loss: Rs 754

Adani Ports has witnessed a marginal dip after the recent surge and reached closer to the neckline (breakout) area of the previous consolidation range, offering a buying opportunity to those who missed the chance earlier. It may see some consolidation around the current levels before resuming the trend. We thus advise accumulating in the mentioned zone.

The Federal Bank Limited

Recommendation: Buy

Last Close: Rs 92.85

Initiation range: Rs 90-92

Target: Rs 102

Stop loss: Rs 87

We’re seeing noticeable traction in the banking pack and Federal Bank has