27-09-2023 03:01 PM | Source: Religare Broking Ltd
Stock Picks : Federal Bank Limited And Tata Consumer Products Limited By Religare Broking Ltd
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Federal Bank Limited
Buy Federal Bank Limited CMP 147.25 @146-148; Target 162; Stop Loss 141
TECHNICAL RATIONALE – Federal Bank has been strong while other banking counters are witnessing consolidation or facing pressure. After the consolidation breakout, it is holding firmly above the short term moving average(20 EMA) and inching gradually higher. The chart pattern indicates the prevailing tone to continue
Tata Consumer Products Limited
BuyTata Consumer Products Limited CMP 905.00 @902-907; Target 980; Stop Loss 865
TECHNICAL RATIONALE – Tata Consumer has witnessed breakout from a buying pivot, after spending nearly 3 months in a
narrow range. The price action combined with stability in the FMCG index is pointing towards the steady up move ahead. We
thus recommend creating fresh longs in the mentioned zone.
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