Tech Stars : Buy Muthoot Finance Limited And Britannia Industries Limited By Religare Broking
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Muthoot Finance Limited
Buy Muthoot Finance Limited @ 1315-1320 CMP 1315.50 Stop Loss 1268 Target 1440
TECHNICAL RATIONALE – Muthootfin has been inching gradually higher, after forming a fresh pivot above the support zone of multiple moving averages while majority are struggling in the prevailing corrective phase. It has retested the previous swing high and may take a breather before resuming the up move. We thus recommend to accumulate fresh in the given range.
Britannia Industries Limited
BUY 4400 PE Britannia Industries Limited @ 86-88 CMP 86.00 Stop Loss 62 Target 110
Britannia has ended its 2-month long consolidation phase with a breakdown and likely to inch gradually lower. The chart pattern combined with signals from the indicators are in sync with the view. Traders should align their position accordingly and create shorts through the Put option in the given range.
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SEBI Registration number is INZ000174330
