Trading calls by Ajit Mishra of Religare Broking: Buy Cipla, Eicher Motors

Eicher Motors' stock has been witnessing profit taking for the last one month, and is likely to see a gradual recovery from hereon

Cipla Limited
 

Recommendation: Buy 

Last Close: Rs 827.95

Initiation range: Rs 820-825

Target: Rs 860

Stop loss: Rs 805
 

We're seeing noticeable traction in pharma counters and Cipla is among the top performers. It has recently witnessed a breakout from a consolidation range of 725-800 zone after spending nearly 4 months. The recent dip in the last two sessions should be considered as a buying opportunity.
 

Indraprastha Gas Limited
 

Recommendation: Buy

Last Close: Rs 511.10
 

Initiation range: Rs 500-505
 

Target: Rs 538
 

Stop loss: Rs 485
 

After retesting its record high in November, IGL has been consolidating in a narrow