Go long in Aurobindo Pharma, Oracle Financial: Chaturmohta

Ashish Chaturmohta of Fortune Equity Broker told CNBC-TV18, "Aurobindo Pharma never fell strongly from its all time high, it made all-time high at around Rs 1,420, corrected till Rs 1,180-1,190 kind of levels and in that range it was consolidating. The way the stock is forming a pattern, clearly an inverted head and shoulder is being formed on the daily chart. The breakout comes around Rs 1,350 kind of levels and once that breakout happens, clearly the stock can cross its previous all time high and can target somewhere around Rs 1,480-1,500 levels."

"In short-term we are recommending a long call in the stock with a stop loss below Rs 1,300 and on upside I am expecting a target of Rs 1,410 in short-term and Rs 1,480-1,500 in next 2-3 weeks," he said.

"Oracle Financial Services Software has been continuously forming a very good base around Rs 3,300 and today it has given a major breakout on the daily and weekly charts above Rs 3,400. So clearly now, the stock may see another 5-7 percent upside from current level. One can initiate long position keeping a stop loss below Rs 3,410 and on the upside expect a short-term target of Rs 3,620 whereas on the positional side we expect the stock to cross Rs 3,850 kind of levels."

Disclosure: Analyst does not have any personal holdings.