Top trading ideas by Ajit Mishra of Religare Broking: Buy Airtel, HDFC Life

Bharti Airtel

Recommendation: Buy

Last Close: Rs 546.80

Initiation range: Rs 540-545

Target: Rs 570

Stop loss: Rs 530

Bharti has started rebounding of late after retesting the major support zone of the long-term moving average (200 EMA) on the daily chart. The chart formation on multiple time frames is pointing towards a gradual recovery ahead. We thus advise creating fresh longs in the mentioned zone.


Recommendation: Buy

Last Close: Rs 689.70

Initiation range: Rs 680-686

Target: Rs 705

Stop loss: Rs 675

HDFC Life has formed a strong base after hovering in a narrow range for nearly a month and looks set to reverse the short-term downtrend. It’s trading on the verge of a declining trendline breakout on the daily chart. Traders should not miss this opportunity and accumulate within the given range.

L&T Finance Holdings

Recommendation: Buy

Last Close: Rs 96.60

Initiation range: Rs 95-97

Target: Rs 104

Stop loss: Rs 93

L&T Finance Holdings has been witnessing recovery after retesting the major support zone of long-term moving average (200 EMA) on the daily chart. The chart pattern and existence of a strong support zone around 90 levels, makes it an ideal candidate for taking fresh long positions on the counter.


Disclaimer: Ajit Mishra is VP – Research at Religare Broking.


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