Buy Jubilant Life Sciences, Wockhardt: Ashish Kyal

Ashish Kyal of wavesstrategy.com told CNBC-TV18, "Wockhardt and Jubilant Life Sciences are from the defensive space. The rally is going to be rotational and these have been the outperforming stocks from the midcap space. The outperformance should continue at least few more days or weeks in these stocks. Jubilant Life Sciences has been managing to sustain above 20-days moving average very easily and it has been also managing to touch new highs. The momentum is strong and the stock has managed to make higher-high and higher-lows which is the precursor for any trend. One can buy the stock with a stop loss of Rs 372 and the target you can expect is around Rs 425.""In Wockhardt, there was a sharp fall from Rs 1,700 till around Rs 1,200 and we are seen that the price is again inching towards those Rs 1,700 mark. So, there is a possibility that we will again reach towards that level. So, Wockhardt can be bought with a stop loss of Rs 1,520 with a target of Rs 1,670. The stock is also moving in an upwards sloping channel, so as long as the channel support is intact I think this should outperform," he said.