Technical Analyst, Anu Jain at IIFL Private Wealth Management is of the view that one can buy Alembic with a target of Rs 58.
Jain told CNBC-TV18, "The chart formation is excellent and this is something which is not in the F&O group, so I am a little more confident as to how things are moving. Attempting the 52-week highs, stop loss would be very close so it's close at 53.80 at about 52.50, ie, about 2-2.5%. It is poised for Rs 58, it is looking very smart, the moves are very smart. It is a very convincing buy not just for a day trade but even for a swing trade."
