Anand Rathi Securities suggested to go with Ajanta Pharma, IndusInd Bank & Arvind
In a recent conversation with CNBC- TV18, Anand Rathi Securities was asked to put forward their trading strategies or to recommend any important buys that should be pointed out. To which a senior derivatives analyst from Anand Rathi replied, “Ajanta Pharma has given a fresh breakout and trading at life time high territory. We have seen open interest addition of more than 12 to 15 percent in last couple of trading sessions. I am expecting the fresh leg of rally which may take it to Rs 1,650. So, one can buy with a stop loss of Rs 1,560.” In other words, after observing the market speculations, he encouraged investors to keep money in the stocks of Ajanta Pharma for better returns.
Since all suggestions from Anand Rathi come after keen research and expert knowledge, another piece of advice that came from the same source, was, “Selective banking counters like YES Bank and IndusInd Bank may continue their upmove by 3-4 percent in next few sessions. So, recommending to go long in IndusInd Bank keeping a stop loss of Rs 1,060 for target of Rs 1,120,”
He also explained that trading long in Arvind for target of Rs 310 is a favorable option while paid attention to the stocks of Dr Reddy’s Laboratories which according to him may record some bounce back move and that may eventually move the stock by Rs 40-50 leading to Rs 360-380 levels.
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