Buy Ipca Labs, target of Rs 730: Manav Chopra

Manav Chopra, senior technical research analyst at Nirmal Bang Securities told CNBC-TV18, "Ipca Laboratories has been on a long term bull structure since 2008. It has been forming a series of higher highs and lows. The stock also recently has managed to exceed its recent swing high which has confirmed a continuation of the uptrend."

"There is absence of any sort of a divergence in the higher timeframe charts in the momentum which suggests that the stock would rally further. We expect at least an upside target of Rs 730 to even higher target of Rs 750 in the near term. We recommend a strong buy in the stock and one should maintain a buy on dips approach with a stop loss of Rs 680," Chopra said.