Weekly Recommendation - Buy Aurobindo Pharma Ltd For Target Rs. 1000 - ICICI Direct
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Weekly future recommendation:
Rationale
Select Pharma stocks remained in focus as Nifty rallied towards 14600 levels. On the weekly basis Pharma index ended almost flat but stock like Apollo hospital, Sun Pharma and Lupin did well. Among other, Aurobindo Pharma has managed to sustain above its Put base of 900. Short covering is visible in the stock since 800 levels and going forward we feel on the back of continues short covering the stock would re-test its highest Call base of 1000.
Long Aurobindo Pharma (AURPHA) January future in range of Rs. 920-926; Target: Rs. 1000; Stop Loss: Rs. 882
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