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7 Pharma Stocks To Bet On For Quick Returns
Broking firm, Motilal Oswal Institutional Equities has come-out with its latest sectoral report on the pharma sector. The broking firm has picked at least 7 stocks that can give quick returns in the next 2-3 months. Here are 7 pharma stocks to bet on for returns in the next few months, according to the brokerage firm.
Motillal Oswal's pharma bets for the next 2-3 months
| Stock | Current price | Buying range | Stop loss | Target |
|---|---|---|---|---|
| Biocon | Rs 442 | Rs 435 to Rs 445 | Rs 409 | Rs 510 |
| Divis | Rs 3,202 | Rs 3,180 to Rs 3120 | Rs 3000 | Rs 3650 |
| Cipla | Rs 750 | Rs 745 to Rs 755 | Rs 700 | Rs 850 |
| Dr Reddy's | Rs 4540 | Rs 4500 to Rs 4550 | Rs 4530 | Rs 4930 |
| STAR | Rs 680 | Rs 675 to Rs 685 | Rs 620 | Rs 800 |
| Glaxo | Rs 1,785 | Rs 1780 to Rs 1,800 | Rs 1,650 | Rs 2055 |
| Auro Pharma | Rs 835 | Rs 830 to Rs 840 | Rs 765 | Rs 975 |
"Nifty Pharma index managed to respect its previous month's low of 11006 and continuing its formation of higher lows from last five consecutive month. Major trend of the sector is positive and recent consolidation provides a fresh opportunity to commence the next leg of rally. It has recently taken support near to its 50 DEMA and consolidating with immediate hurdle of 11600-11800 zones from last 22 trading sessions.
Mechanical indicator like RSI has given given Bullish crossover along with its intact buy signal on daily scale. We have witnessed good support based buying in most of the Pharma heavyweights with surge in trading as well as delivery volumes which also supports to our bullish stance on the sector. Pharma index is at the verge of fresh breakout and surpassing its falling supply trend line on lower time frame. Thus, expecting Nifty pharma index to make a new 52-weeks high above 12000 mark. This bullish view remains intact till its sustains above support of 11000 zones," Motilal Oswal Institutional Equities has said in its report.
