Tech Stars - JK Lakshmi Cement and Motherson Sumi Systems Ltd By Religare Broking
JK Lakshmi Cement Limited
TECHNICAL RATIONALE – We’ve been seeing noticeable traction in the cement stocks for the last one week and most stocks are trading at their record high or 52-week high. Amongst all, JK Lakshmi Cement has witnessed a fresh breakout from the consolidation range with a noticeable rise in volume. Indications are in the favor of prevailing momentum to continue. Traders can use any dip to accumulate in the given range.
Buy JK Lakshmi Cement Ltd @ 363-366 CMP 368.05 TGT 395 SL 350
Motherson Sumi Systems
TECHNICAL RATIONALE – Motherson Sumi has rebounded after testing the support zone around 140 and formed a fresh buying pivot. The overall buoyancy in the auto space combined with the existence of multiple support areas is pointing towards a steady up move ahead. We thus advise creating fresh longs in the mentioned zone.
Buy Motherson Sumi Systems Ltd @ 160-162 CMP 162.85 TGT 174 SL 153
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