Sudarshan Sukhani of s2analytics.com is of the view that position trader can buy Aurobindo Pharma even at current levels and hope to make decent money out of it.
Sukhani told CNBC-TV18, "I am very downbeat on cement stocks in general and India Cement in spite of the fact that day before it had a big rally, that rally is immaterial and it has come back to its original sideways or mildly bearish outlook, so India Cement would not be a buying opportunity for me.”
He further added, “Purely on the fact that everything is a buy now you do not go and short sell it, but I would completely avoid it. There is something else. This market is showing us strong momentum on the back of a narrow range and then a significant sustained breakout, so most trades should be on the long side."
He further added, "Aurobindo Pharma is a very nice stock. It was located when it was just beginning its bull market. It is likely to go much higher. An immediate target could be Rs 212-215, but that is only for very short-term traders. A position trader can actually buy even at current levels and hope to make decent money out of it."
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
