Tech Stars : Buy IDFC First Bank Limited and Tata Motors Limited By Religare Broking
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IDFC First Bank Limited
Buy IDFC First Bank Limited @ 64-65 CMP 64.50 Stop Loss 61.50 Target 72
TECHNICAL RATIONALE
We are seeing noticeable traction in the banking and financial pack and IDFC First Bank is trading in tandem with the trend. It is currently hovering in a narrow range around the previous swing high while holding the gap on the daily chart. Indications are in the favor of fresh surge in near future. We thus suggest creating fresh longs in the mentioned range.
Tata Motors Limited
Buy Tata Motors Limited @ 500-505 CMP 503.50 Stop Loss 485 Target 540
TECHNICAL RATIONALE
Auto Sector has made a new record high, after spending nearly 8 months in a consolidation range. Tata motors has also witnessed a fresh breakout from a congestion zone and looks upbeat to maintain the prevailing momentum. Traders shouldn’t miss this opportunity and accumulate in the given range.
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