The stock has provided a breakout from a descending triangle pattern on the daily chart. It is trading well above its short-term and long-term moving averages. The momentum indicators and oscillators are very well in the 'buy' mode on daily as well as weekly scales which hints of a further positive momentum in the counter. It has also surpassed its 21-DMA which is placed at 2,260 which will now act as immediate support.
BUY TORNTPHARMA | TARGET: Rs 2,900 | STOP LOSS: Rs 2,740
The counter has provided a breakout from a falling channel and the momentum indicator RSI has also reversed from the oversold territory. It also trading well above its long term 200-day simple moving average. The overall pharma sector is poised for a breakout on the charts.
BUY KEC | TARGET: Rs 350 | STOP LOSS: Rs 310
The stock is in a secular uptrend and also making a higher top and higher bottom formation on the daily chart. The counter has reversed after witnessing some profit booking from higher levels. The momentum indicator and oscillator are in 'buy' mode on the weekly scale which hints of further positive momentum in the counter.