Initiation range: 860-865
We’re seeing a good amount of traction in the pharma space and AUROPHARMA is among the top performer. It has recovered almost vertically from the March lows i.e. 288.85 and currently trading at its record high. The reversal of the trend in the pharma space combined with the chart pattern of the stock is indicating a steady rise ahead. We thus advise initiating fresh long positionsin the given range.
Initiation range: 544-548
BHARTIARTL has been consolidating in a range of 540-590 levels for the past three months while holding firmly above the support zone of 100 EMA on the daily chart. It has again reached closer to the lower band of the range and indications are in the favor of rebound from the current levels. Traders shouldn’t miss this opportunity and accumulate the stock within the mentioned levels.
Initiation range: 925-935
We’re seeing long term reversal in LUPIN, after a prolonged downtrend of nearly four years. It has not only breached the resistance zone of declining trend line but also surpassed the hurdle of the long term moving averages on multiple time frames. It might consolidate a bit after the recent up move and traders should use that pause to create fresh longs.
Initiation range: 1055-1065
TITAN, after the breakout from a consolidation range, is gradually inching higher while holding strongly above the support zone of the long term moving average( 200 EMA) on the daily chart. The current chart pattern and positioning of the indicators are pointing towards a steady up move ahead. We advocate buying the stock within the mentioned zone.
Disclaimer: All stock prices are in INR