Anand Rathi Securities endeavors to keep its customers updated about each market speculation as soon it comes into effect to make the best out of the available opportunities. That is the reason on being asked by the CNBC- TV18 representative about the current trading strategies or any important buys that shall be pointed out, a senior derivative analyst from the company gave an affirmative nod to the investment in Ajanta Pharma along with IndusInd Bank and Arvind.
As Ajanta Pharma has given a fresh breakout and trading at life time high territory, an observation was made on an open interest addition of more than 12 to 15 percent in last couple of trading sessions which would give the fresh leg of rally that is expected to lead towards Rs 1,650. Hence, it was suggested to buy respective stocks with a stop loss of Rs 1,560.
For those who intend to invest in banking stocks, the Selective banking counters like YES Bank and IndusInd Bank were expected to continue their upward movement by three to four per cent in view of next few sessions. Further going long in IndusInd Bank at a stop loss of Rs 1,060 for target of Rs 1,120 is considered favourable.
On account of high yielding returns, trading long in Arvind for a target of Rs. 310 is noteworthy while Dr Reddy’s Laboratories apprise of bounce back move which may trigger the stock by Rs 40-50 leading to Rs 360-380 levels.