Trading ideas by Religare Broking: Buy Axis Bank, Dabur India

The current chart formation, along with the positioning of the confirmation indicators, are all pointing towards a fresh breakout ahead in Axis Bank's stock

Equity fund managers buy Infosys, sell Reliance Industries in October

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Dabur's stock has witnessed a fresh breakout

Religare Broking New Delhi

2 min read Last Updated : Jul 08 2020 | 8:09 AM IST

Axis Bank Limited

Recommendation: Buy

Last Close: Rs 447.35

Initiation range: Rs 442-446

Target: Rs 475

Stop loss: Rs 428

In line with other banking majors, AXISBANK has been consolidating in a broader range of 350-450 levels for the last three months or so. On Tuesday, it again reached closer to the upper band of the range. The current chart formation, along with the positioning of the confirmation indicators, are all pointing towards a fresh breakout ahead. We advise initiating fresh long positions as per the given levels.

Dabur India Limited

Recommendation: Buy

Last Close: Rs 478.55

Initiation range: Rs 475-480

Target: Rs 505

Stop loss: Rs 465

Topics : Markets Market technicals Dabur India Axis Bank Siemens India Coal India Ltd Stock calls

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