Strongly bullish on Dr Reddy's Labs, target Rs 3405: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "On Dr Reddy's Laboratories (DRL), I have given a stop loss at Rs 3,250 on closing price basis meaning that there possibly be an intraday dip below Rs 3,250 but I am not expecting it to close below Rs 3,250. Reasons are there are two major moving averages, which erstwhile have been trending down but for last one month or so they are trending up. That is the 200-day exponential moving average (EMA) currently located at Rs 3,267 and 89-day moving average (DMA) on the dot at Rs 3,250 and 89-day moving average helps decide the intermediate trend very well.""I was expecting this kind of a fall in DRL because whenever there is a golden cross that is about to happen between 89 DMA and 200 DMA - similar kind of situation was developing on Punjab National Bank (PNB). So, it bounced back once again from a lower level. Similar kind of thing might well happen in DRL and I am not too bothered about those calls, those calls might well be there. 25 years of my stock market experience suggests that you better trust what you do," he said."So, from that perspective, I would say that I am strongly bullish on DRL at lower levels and I am not expecting it to breach Rs 3,000. I don’t care about Intraday trades but only from a closing price point of view, I would say that Rs 3,250 should be your stop loss and Rs 3,405 is the target.""If you buy Zee Entertainment at current level, put a stop loss below Rs 484 and look for targets of Rs 494 and Rs 497.""Put a stop loss below Rs 129 for Punjab National Bank (PNB) and expect Rs 137 on the upside."