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Weekly stock picks by Religare Broking: Buy Aurobindo Pharma, Marico

The chart pattern and positioning of oscillators are pointing towards a sharp up move in Aurobindo Pharma in the near future

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Ajit Mishra Mumbai
Buy Aurobindo Pharma Limited

Last Close: Rs 879.25

Initiation range: Rs 875-880

Target: Rs 930

Stop loss: Rs 845
 
Aurobindo Pharma has witnessed a fresh breakout from a consolidation range on November 24, with a noticeable rise in the volume. The chart pattern and positioning of oscillators are pointing towards a sharp up move in the near future. We advise creating fresh longs in the given range.

Buy Dr. Reddy's Laboratories Limited

Last Close: Rs 4,915.50

Initiation range: Rs 4,910-4,920

Target: Rs 5,200

Stop loss: Rs 4,770

The pharma pack looks set for a rebound after three months of consolidation. Among