>> Friday, July 24, 2009
Buy Aurobindo Pharma for target of Rs 545: India Infoline
India Infoline has advised traders to buy Aurobindo Pharma for target of
“On the daily chart, Aurobindo Pharma has given a bullish breakout and in the process has also made an intermediate top, suggesting that its short-term trend has also turned up. Over the last four weeks, the stock was consolidating in the range of Rs 425-506, before finally breaking out on Wednesday. The upmove was well supported by healthy volumes, which suggest accumulation. Other technical oscillators are also positive. We recommend traders to buy the stock between the range of Rs 515-523 for target of Rs 545. It is advisable to maintain a stop loss of Rs 507,” said the technical note.