Two pharma stocks that Ajit Mishra of Religare Broking is bullish on

All indicators point to a gradual rise in Aurobindo Pharma's stock from the 100 EMA support

Buy Ambuja Cements Limited

Last Close: Rs 217.45

Initiation range: Rs 212-215

Target: Rs 234

Stop loss: Rs 205

The cement pack has been gradually inching higher for the last five months. Among the prominent names, Ambuja Cement has formed a fresh buying pivot, after a marginal dip to the major support zone of multiple moving averages around 205 levels. Traders can consider initiating fresh longs in the given range.

Buy Aurobindo Pharma Limited

Last Close: Rs 818.80

Initiation range: Rs 810-815

Target: Rs 890

Stop loss: Rs 775

We’re seeing noticeable traction in the defensive pack and Aurobindo Pharma is also trading in line with the