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7 Pharma Stocks To Bet On For Quick Returns

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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.

7 Pharma Stocks To Bet On For Quick Returns
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