Wockhardt may rally to Rs 850-860, says Bothra

Wockhardt is expected to rally to Rs 850-860 levels, says Kunal Bothra of LKP.

Bothra told CNBC-TV18, "Wockhardt Pharma particularly has been one of the very strong counters. One just has to look at probably monthly or the weekly charts and one can get a very fair idea of where the stock is probably heading. Yet again it’s a very good chart probably touching the 52 week high, but I think the chart looks good. You have very good volumes also picking up in today’s session. So, the stock might graduate Rs 850-860 odd levels. But I think it’s a stock where one can probably buy and hold and probably have a trading stop loss on Wockhardt." He further added, "Ajanta Pharma, yet again probably a similar chart to Wockhardt. Sustained rally which we have been witnessing and I think anyone who is holding long should just keep a trailing stop loss of Rs 650 on Ajanta Pharma. It might just consolidate here, but I think the uptrend is intact."