Stocks to Buy: Here's why Angel One is bullish on Fortis, Piramal Pharma

Stocks picks by Angel One: Fortis Healthcare is in a secular uptrend, hovering above its EMAs (Exponential Moving Average) on the daily time frame chart

NSE Scrip – Fortis Healthcare 

View - Bullish

Last Close – Rs 451.95

Fortis Healthcare is in a secular uptrend, hovering above its EMAs (Exponential Moving Average) on the daily time frame chart. In recent times, the counter has gained decent traction, leading toward its 52-week high. The sustainability above its 21 DEMA and highest-ever weekly closure construes a bullish development. On the technical parameters, the 14-period RSI has seen a positive crossover, adding a bullish quotient to the counter.

Hence, we recommend to Buy Fortis around Rs 450-446 | Stop-loss: Rs 430 | Target: Rs 485

NSE Scrip – Piramal Pharma

 

View - Bullish

Last Close – Rs 151.05

Piramal Pharma witnessed a decisive spurt in price volume in the last trading session, soaring over 5 per cent. The counter is also in a secular uptrend, hovering above all its major EMAs (Exponential Moving Averages) on the daily chart, adding a bullish undertone. From a technical standpoint, the counter has witnessed a V-shaped recovery, backed by strong volumes. On the oscillator front, 14-period RSI and MACD both signal a continuation move, suggesting a potential upside journey in a comparable period.

Hence, we recommend to ‘Buy’ Piramal Pharma around Rs 150-148 | Stop-loss: Rs 143 | Target: Rs 165

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Disclaimer: Osho Krishan is a senior technical & derivatives analyst at Angel One Ltd. Views expressed are personal.