 "Mehul Kothari recommends Biocon, Aurobindo Pharma for trading gains")
BUY
Aurobindo Pharma
Buy Near: Rs 445
Target: Rs 490
Stop Loss: Rs 430
Aurobindo Pharma has found support at the placement of 200 bars moving average and that too on a monthly scale. This means 200 months average and that can be a huge support. Thus, we advise traders to buy the stock on dips near Rs 445 with a strict stop of Rs 430.
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BUY
Biocon
Buy Near: Rs 270
Target: Rs 295
Stop Loss: Rs 257
We are witnessing a double bottom formation near Rs 257. In addition there is a bullish hammer kind of formation on the daily scale. Thus, we advise traders to buy the stock on dips near Rs 270 with a strict stop of Rs 257.
(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
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