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Published on 20/10/2020 12:40:30 PM | Source: Religare Broking Ltd

Tech Stars - Amara Raja Batteries and IndusInd Bank By Religare Broking

Posted in Broking Firm Views - Short Term Report| #IndusInd Bank Ltd #Amara Raja Batteries Ltd #Trading Report #Religare Broking Ltd

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Amara Raja Batteries

TECHNICAL RATIONALE –

Amara Raja has made a strong comeback after the slide in March month and retested the previous swing high around 740 levels. Currently, it’s hovering in a range and recently tested the support zone of medium term moving average(100 EMA) on the daily chart. Indications are in the favor of sharp rebound thus we advise creating longs in the given range.

Buy Amara Raja Batteries Ltd @ 728-733 CMP 732.10 TGT 785 SL 700

 

IndusInd Bank

TECHNICAL RATIONALE –

The banking index has regained some strength of late and private banking counters are leading the pack. Among the private banking names, IndusInd Bank has been trading in a congestion zone and its chart pattern is showing potential of a breakout in near future. We advise initiating long positions in the mentioned zone.

Buy IndusInd Bank Ltd @ 620-625 CMP 627.10 TGT 690 SL 590

 

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