Technical calls by Religare Broking: Buy Exide Industries, GAIL

Top trading ideas by Religare Broking:

Exide Industries Limiteda
Rec: BUY
Last Close: 268.85
Initiation range: 267-270
Target: 284
Stop loss: 263
After making a record high at 304.70, EXIDEIND has been witnessing profit taking for past almost one month. It is currently consolidating around the support zone of multiple moving averages on different time frames and likely to see swift rebound in near future. Traders shouldn’t miss this chance and accumulate fresh longs in the given range.

GAIL (India) Limited
Rec: BUY
Last Close: 374.80
Initiation range: 369-373
Target: 394
Stop loss: 362
GAIL has retraced marginally of late, after making a record high in August 2018 and found support around the short-term moving averages (50/100) EMA on the daily chart. We believe it’s an excellent buying opportunity, considering the overall chart structure and positioning of confirmations indicators. Traders can accumulate within the given range.