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Published on 6/11/2018 1:47:12 PM | Source: Religare Securities Ltd

Technical Recommendation 6 November 2018 - Religare Sec

Hindalco Industries Limited

TECHNICAL RATIONALE –

HINDALCO has rebound swiftly of late and crossed the hurdle of multiple moving averages on the daily chart. Its chart formation is clearly pointing towards strong surge ahead. We advise creating fresh longs within the given range.

Recommendation

Buy Hindalco Industries Ltd @ 235-240 Stoploss 230 Target 258 CMP 242

 

Reliance Infrastructure Limited

TECHNICAL RATIONALE -

RELINFRA witnessed marginal recovery of late but failed to surpass the hurdle around 380 and formed a fresh shorting pivot. We advise using any bounce to create fresh shorts within the given range through Put option.

Recommendation

Buy Reliance Infrastructure Ltd 360PE @ 16-18 Stoploss 10 Target 34 CMP 17.50

 

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