2 buy recommendations from Sharekhan’s Jay Thakkar

Jay Thakkar, Vice President & Head of Alternate Research, Sharekhan, says IndusInd Bank futures. It is trading around the levels of Rs 1469-1470 and the kind of long build-up which we are seeing out there on IndusInd Bank, I think it is likely to reach towards the levels of Rs 1500-1520.

Any ideas that you may have spotted?
I have a buy recommendation on IndusInd Bank futures. It is trading around the levels of Rs 1469-1470 and the kind of long build-up which we are seeing out there on IndusInd Bank, I think it is likely to reach towards the levels of Rs 1500-1520. On the downside, one can place a stop-loss at Rs 1440. So IndusInd Bank is providing a good risk reward right now.

The second buy recommendation would be on Reliance Industries. The stock is looking good from the short covering point of view. A bounce back out here cannot be ruled out with the kind of positive divergence which we are seeing on the daily and the hourly charts. The stock is likely to reach towards the levels of Rs 2360-2380. Reliance can be bought at the current market price with a stop-loss of Rs 2290.