Hold AstraZeneca Pharma, Mindtree: Malkan

Vishal B Malkan, CMT, www.malkansview.com is of the view that one should hold AstraZeneca Pharma with stop loss of Rs 1440. One can also hold Mindtree with a target of Rs 850.

Malkan told CNBC-TV18, “The move which we have seen in last three-four days suggest that there is some bottom formation in AstraZeneca Pharma and I think one should hold on with a stop of around Rs 1440. It has been in a long down trend from Rs 2600 to 1500 in last one year or so. But now in last few days it shows some bottoming formation.
 
He further added, “Mindtree is a strong performing stock but in last few weeks it has been trading in a range of Rs 600 and 700 and there is some kind of breakout which can be seen today. But it should come on a closing basis above Rs 710-720 and it should reach around Rs 750. But it is a good stock to hold with a stop of around Rs 625 and if investor is ready to hold for six-eight months we can see targets of around Rs 850 plus.”