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Published on 1/12/2020 12:42:56 PM | Source: ICICI Direct

Weekly Recommendation - Long Cadila Healthcare Ltd For Target Rs. 467 - ICICI Direct

Posted in Broking Firm Views - Short Term Report| #Cadila Healthcare Ltd #Pharma Sector #Trading Report #ICICI Direct

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Weekly future recommendation:

Rationale

Stock specific action was seen in the current leg of consolidation in the Nifty near 13000. Few pharma stocks saw decent buying during the week where Cadila Healthcare made a new yearly high last week. For a couple of months, the stock has been rallying on the back of short covering. We feel the ongoing trend in the stock will continue. It was finding it difficult to sustain above | 440 levels. However, as it finally closed above this levels, fresh upsides could be seen in the coming week.

Long Cadila Healthcare (CADHEA) December future in the range of Rs. 442-445; Target: Rs. 467; Stop Loss: Rs. 429.50

 

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