 "Sell Aurobindo Pharma, buy Granules India, says Anand Rathi Research")
Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Research:
NIFTY - BUY
Target: 10,290
Stop Loss: Rs 10,090
Nifty closed in the negative territory in the last trading session however the Index has recovered well from the lower end which indicates that the probability of a reversal from these levels is quite likely. On the lower side, 10,090 is an immediate support, hence with that as a stop loss one can buy for the target of 10,290 levels
AUROBINDO PHARMA - SELL
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Target: Rs 695
Stop Loss: Rs 745
The stock has broken the symmetrical triangular pattern on the lower side with a sell crossover in its momentum indicator, hence we recommend selling this stock.
REC - BUY
Target: Rs 114
Stop Loss: Rs 103
The stock has provided a breakout from the symmetrical triangular pattern on the upside with a buy crossover in its momentum indicators, hence we recommend buying this stock.
GRANULES INDIA - BUY
Target: Rs 100
Stop Loss: Rs 87
The stock has completed wave B on the daily charts and wave C up is likely which has a minimum target of 100. The momentum indicator is also well in buy mode, hence we recommend buying this stock.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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