Ipca Lab, Ajanta Pharma: Two pharma stocks HDFC Securities is bullish on

Key Nifty levels to watch today

Nifty took support exactly on the upward sloping channel on the weekly charts. The level of 11,050 should be followed as a stop-loss on a closing basis in Nifty longs. Resistance zone for Nifty is seen at 11,433-11,536.

BUY AJANTA PHARMA (1477.5): | TARGET: Rs 1,590 | STOP-LOSS: Rs 1,425

The stock price has closed at 2-year highs with rising volumes. It consolidated for a while, formed a pennant pattern on the daily chart and broke out on March 3, 2020. This is one of the best performing stocks in the pharma space in