 "Buy Lupin with a target of Rs 1,225, says HDFC Securities")
Buy Dr Lal Path Lab between Rs 864-840
CMP: Rs 864
Stop loss : Rs 830
Target: Rs 925
Also Read
The stock has seen healthy correction of 40% from its all-time high of Rs 1260 registered in November 2016. In the current month, stock formed bullish double bottom formation at Rs 760 levels. The same level was last seen in June 2016. Oscillators on the weekly and monthly charts have exited the oversold zone. Short-term moving averages have started moving up, indicating bullish trend reversal.
Considering the technical evidences discussed above, we recommend buying the stock between Rs 864 and Rs 840, for the target of Rs 925, keeping stop loss at Rs 830.
Buy Lupin between Rs 1156-1135
CMP: Rs 1,156
Stop loss: Rs 1,120
Target: Rs 1,225
Stock has seen healthy correction of more than 50% from its all-time high of Rs 2,129 registered in October 2015. Monthly and weekly oscillators have reached extreme oversold territory. However, on the daily charts, oscillators like RSI and MACD have been developing positive divergence, which indicates that bearish momentum is exhausting. Lupin is a bell-weather pharma stock and has rewarded its investors handsomely over the past decade. Nifty Pharma Index has been outperforming for last two months. Lupin has surpassed the crucial resistance of Rs 20 and 50-DMA recently.
Considering the technical evidences discussed above, we recommend buying the stock between Rs 1156 and Rs 1135, for the target of Rs 1225, keeping stop loss at Rs 1120.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%