Pick Ipca Lab, Siemens: Amit Harchekar

Amit Harchekar of A-Plus Analytics told CNBC-TV18, "Ipca Laboratories has been into a long-term downtrend but since last few weeks, the stock has been showing positive divergence on RSI although the long-term charts of healthcare index is indicating extremely negativity for next few weeks but there is a possibility of a rebound towards Rs 800-810. So from a trading perspective, one can keep a stoploss of Rs 710 and play for a target of Rs 800."He further added, "We haven’t seen major short rollovers in Siemens futures and on technical side there is a bullish pennant, which has occurred in last three trading session. Now this pennant is indicating there is a pullback, which could extend all the way towards Rs 1,270-1,285. We are not that bullish on Siemens to see the stock price going beyond Rs 1,300-1,350.""It is purely a bear market rally which should end around Rs 1,270. So from a trading perspective, Rs 1,165 should be a stoploss for your long positions and once you try to exit your longs around Rs 1,265-1,270 on the higher side," he said.