Weekly stock picks by Religare Broking: Buy Berger Paints, HDFC Life

Berger Paints has resumed the uptrend and is currently trading at its record high. Indications are in the favor of prevailing momentum to extend upside further

Berger Paints (I) Limited
 

Recommendation: Buy
 

Last Close: Rs 605.25
 

Initiation range: Rs 598-603
 

Target: Rs 625
 

Stop loss: Rs 585
 

Berger Paints has been maintaining a long term uptrend since 2010. After a slide from its record high in February 2020, it consolidated for nearly four months but the bias remained on the positive side. It has again resumed the uptrend and currently trading at its record high. Indications are in the favor of prevailing momentum to extend further thus we suggest accumulating in the mentioned range.
 

HDFC Life Insurance Company Limited
 

Recommendation: Buy
 

Last Close: Rs 582.05
 

Initiation