Weekly stock picks by Religare Broking: Buy Havells, Colgate Palmolive

Here are the weekly stock recommendations by Religare Broking

Buy Havells India Limited (Initiation range: Rs 642- Rs 646)

Last Close: Rs 646.85 
 

Target: Rs 675

Stop loss: Rs 630

Havells has retraced considerably from its record high in last one month and reached closer to the crucial support zone of medium term moving averages (100 EMA) placed around Rs 620. Indications are in the favour of consolidation followed by recovery ahead. Traders should accumulate within in the mentioned range.

Buy Colgate Palmolive (India) Limited (Initiation range: Rs 1,185-Rs 1,190)

Last Close: Rs 1,207.25

Target: Rs 1,250
 

Stop loss: Rs 1,160
 

After a marginal correction from its record high, Colgate