Mehul Kothari recommends Buy on CAMS, Pfizer; Check Why

According to the technical analyst from Anand Rathi, CAMS can rally to Rs 2,700, while Pfizer can be bought for a target of Rs 4,700.

BUY

CAMS

Buy Near: Rs 2,520

Target: Rs 2,700

Stop Loss: Rs 2,420

On the daily chart of CAMS we are witnessing a fresh trend line breakout. The breakout has occurred just above the placement of its 200-DEMA and 200-DSMA. In addition, the price action resembles bullish inverse Head & Shoulder pattern.

Thus, we advise traders to buy the stock on dips near Rs 2,520 for a target of Rs 2,700 in the coming sessions.

BUY

Pfizer

Buy Above: Rs 4,490

Target: Rs 4,700

Stop Loss: Rs 4,350

After a consolidation of few months, Pfizer has confirmed range breakout and that too above its 200-day moving average. During the process, the stock has managed to confirm a higher top and higher bottom formation which indicates change of trend.

Thus, we advise traders to buy the stock above Rs 4,490 for a target of Rs 4,700 in the coming sessions.

(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).