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Weekly Stock Selection by Religare Broking: Buy Bajaj Finance, Maruti Suzuki

Bajaj Finance Limited

Recommendation: Purchase

Last Close: Rs 3,453.25

Starting range: Rs 3,435-3,445

Goal: 3,800 rupees

Stop loss: Rs 3,250

We have witnessed decent traction at recent financial counters and Bajaj Finance is currently catching up with this trend. On October 27th, after spending nearly two months, a breakout from the fix phase occurred. It is recommended to use a dip to create a fresh long in a given range.

Colgate Palmolive (India) Limited

Recommendation: Purchase

Last Close: Rs 1,542.55

Starting range: Rs 1,525-1,535

Goal: 1,630 rupees

Stop loss: Rs 1,480

FMCG packs are set to surge after the last two months of noticeable fixes. At the counter, Colgate Palmolive has completed a six-month integration phase and has seen a significant increase in volume. This further enhances confirmation. Traders should not miss this opportunity and should accumulate freshly in the zones mentioned.

L & T Finance Holdings Limited

Recommendation: Purchase

Last Close: Rs 66.55

Starting range: Rs 65.5-66.5

Target: Rs 72

Stop loss: Rs 63

L & T Finance has integrated in a wide range of 55-75 over the past three months or so. We have witnessed a breakout from the bullish reversal pattern formed within this zone and may soon retest the upper band.

Maruti Suzuki India Limited

Recommendation: Purchase

Last Close: Rs7,158.40

Starting range: Rs 7,150-7,160

Goal: 7,450 rupees

Stop loss: Rs7,010

Autopacks are primarily traded in parallel with benchmarks, with most stocks recovering to pre-provided levels. At the counter, Marti recently witnessed a new breakout from the flag pattern (indicating a pause), trading just before the previous swing-high hurdle. It is advisable to start a long position within the given range.

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Disclaimer: Ajit Mishra is Vice President-Religare Brokering Survey

http://www.religareonline.com/disclaimer

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Weekly Stock Selection by Religare Broking: Buy Bajaj Finance, Maruti Suzuki

Source link Weekly Stock Selection by Religare Broking: Buy Bajaj Finance, Maruti Suzuki

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