Tech Stars : Buy Firstsource Solutions Limited and IDFC First Bank Limited By Religare Broking
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Firstsource Solutions Limited (FSL)
BUY Firstsource Solutions Limited CMP 117.75 Initiation Range 115-118 Stop Loss 107 Target 132
TECHNICAL RATIONALE – FSL has finally witnessed a breakout after spending nearly eight months in a consolidation range. Its chart structure combined with recent buoyancy in the IT space is pointing towards gradual up move. We thus recommend accumulating in the given range.
IDFC First Bank Limited (IDFCFIRSTB)
BUY IDFC First Bank Limited CMP 59.50 Initiation Range 57.5-59.5 Stop Loss 55.5 Target 66
TECHNICAL RATIONALE – IDFC First Bank has been witnessing consolidation for the last 3 months after the phenomenal surge and looks set to the resume the uptrend now. The uptick in the banking space and its relative strength is added positive. Traders can consider fresh longs in the mentioned zone.
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