Glenmark Pharma can move to Rs 570: Jai Bala

In Glenmark Pharma one can place a stoploss below Rs 510 and expect the stock to touch about Rs 570 odds, says Jai Bala, cashthechaos.com.

Bala told CNBC-TV18, "Glenmark Pharma is a very strong stock. The structure is quite positive here. I am being slightly preemptive here - the correction is almost over. The stock is unlikely to drop below Rs 510.”
He further added, “We are seeing a short-term correction that is coming to an end. This stock is likely to clock about Rs 570 in the short-term. One can place a stoploss below Rs 510 and expect the stock to touch about Rs 570 odds."
"I had even picked BF Utilities as my Diwali pick. Yesterday it made a higher-high and a higher-low when it crossed Rs 380. It is putting in a long-term base and it is looking very attractive for the medium-term. With a stoploss of about Rs 345-347, the stock is likely to hit about Rs 480 in the coming quarter. It is a medium-term call, not a short-term call. If you had to be patient, it is very attractive opportunity here."