Dabur India, PI Industries and Sanofi India on Buy List: SMC Global Securities
SMC Global Securities has given BUY call for FMCG company Dabur India, pharmaceutical major Sanofi India and PI Industries. In its latest research report, SMC Global Securities has given BUY call for Dabur India with target of Rs 540 and stop loss of Rs 475. SMC Global Securities added that despite a weak market, the stock has shown resistance and managed to hold above its short and long-term moving averages on the daily interval and formed a symmetrical triangle pattern.
The research report added that traders can accumulate the stock in the range of Rs 500-505 for the upside target of Rs 540 with a stop loss below Rs 475.
Indian markets have witnessed quick correction but many stocks have come in a buying range. Investors with medium term outlook can purchase stocks that have witnessed a decline but have strong fundamentals.
PI Industries can be bought in range of Rs 1,530-1,545 for the upside target of Rs 1,745 with a stop loss below Rs 1,400.
Sanofi India witnessed a strong breakout above Rs 7,000. The stock has recently touched its 52-week high of Rs 7,640. Traders can accumulate the stock in the range of Rs 7,320-7,390 for the upside target of Rs 8,200 with a stop loss below Rs 6,800.