Go long in Pidilite; sell Aurobindo Pharma: Shubham Agarwal

Shubham Agarwal of Motilal Oswal Securities told CNBC-TV18, "The medium-term trend in Pidilite Industries has been consolidated in nature. However, within that consolidation if we go and study the structure then it very much coincides for medium-term rally to start. Recently, we have seen that happening and the charts has been confirming it. So, yesterday also we did see momentum happening in the stock. It has moved beyond the range and we expect the momentum to even add up. So, we are expecting a target of Rs 650 and stop loss can be kept at Rs 555 for this long trade.""After a long time we did see a breakdown happening in Aurobindo Pharma from the upper slopping wedge which is already under formation. The level of Rs 780 was a very critical area. We have seen a breakdown happening from there. So, we expect this decline to continue, Rs 660 is the target and Rs 790 is the stop loss that we are recommending for this sell trade," he added.