Buy Aurobindo Pharma, Lupin; Short State Bank of India: Ruchit Jain

Markets staged a good rally in trades on Thursday wherein Nifty broke above its crucial psychological level of 8,850 after consolidating in the previous two sessions. Ruchit Jain, equity technical analyst with Angel Broking, shared his trading strategies on a few stocks. Stock Talk ICICI Bank: The stock has been consolidating in range between Rs 285 and 260 and is likely to move in this range for some more time. Bharat Financial Services: The stock is consolidating in range between Rs 840 and 740 and currently it is at higher end of the range. Before taking a buy call in this stock, investors need to wait for a breakout on charts above Rs 840-850. Buy Castrol India: The stock is forming higher top and higher bottom on charts despite volatility. Investors can buy this stock on dips or at current market price for target of Rs 500-505. Buy Aurobindo Pharma: The stock has given a breakout on charts after a long phase of consolidation and uptrend has resumed in Aurobindo Pharma. Investors can buy this stock on dips with stop loss below Rs 800 for target above Rs 900. Buy Glenmark Pharmaceuticals: The stock has given a breakout and is forming higher top and higher bottom formation on charts. Investors can buy this stock for target of Rs 960. Buy Lupin: The stock has resumed uptrend and in next 1-2 months it can go up to Rs 1,700. Avoid Reliance Industries: Stock faces resistance around its crucial psychological level of Rs 1,100 and it is forming bearish pattern on charts. Fresh buying should be done above Rs 1,100 and investors should avoid buying Reliance Industries at current levels. Buy Hindalco: Investors can buy this stock with stop loss at Rs 148 for target of Rs 161-162. Short State Bank of India: The stock is likely to see some correction and if Rs 250 is broken, then it can go down to Rs 230-231, which will be a good level to buy. However, in short term investors can also go short on SBI below Rs 250. Short Bank of Baroda: Traders can go short on Bank of Baroda for near term target of Rs 155.

Buy Aurobindo Pharma, Lupin; Short State Bank of India: Ruchit Jain

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