Business Standard
Web Exclusive

Stock recommendation by Prabhudas Lilladher: Buy Hindalco, Aurobindo Pharma

The RSI indicator for Hindalco Industries has recently indicated a decent rise to imply strength

Topics
Stock calls | Markets | Market technicals

Vaishali Parekh  |  Mumbai 

The stock of Aurobindo Pharma has witnessed some correction in recent times and has currently indicated signs of bottoming out
The stock of Aurobindo Pharma has witnessed some correction in recent times and has currently indicated signs of bottoming out

BUY HINDALCO | CMP: Rs 179.80 | Target: Rs 215-225 | Stop Loss: Rs 160

The stock has formed a base near 153 levels and has picked up momentum with stability seen at current 170 levels. The RSI indicator has recently indicated a decent rise to imply strength and we anticipate further upward movement in the coming days. We suggest to buy and accumulate this stock for an upside target of Rs 215-225 levels, keeping the stop loss of Rs 160.

BUY AURO PHARMA | CMP: Rs 806.25 | Target: Rs 920-940 | Stop Loss: Rs 750

The stock has witnessed some correction in recent times and has currently indicated signs of bottoming out and reversing the trend with improvement in the bias. The RSI also has shown improvement with a trend reversal and we anticipate further upward movement from here on. We suggest to buy and accumulate this stock for an upside target of Rs 920-940, keeping the stop loss of Rs 750.


===============================
Disclaimer: The author is an analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, October 19 2020. 07:43 IST
RECOMMENDED FOR YOU
.