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Buy RIL, Fortis Healthcare; Avoid Aurobindo Pharma: Pradip Hotchandani

Nifty on Wednesday ended with losses for fifth day in a row as investors cautiously await earnings of the Indian corporates.
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Buy RIL, Fortis Healthcare; Avoid Aurobindo Pharma: Pradip Hotchandani
Nifty on Wednesday ended with losses for fifth day in a row as investors cautiously await earnings of the Indian corporates. Besides that weak global cues were also an overhang on domestic markets Market analysts are eager to see how the companies fared in the quarter gone by. Meanwhile, the Sensex and Nifty have staged a sharp rally since start of this year, with the Nifty surging over 11 per cent year to date. Amid all the happenings on Dalal Street, NDTV Profit spoke to Pradip Hotchandani, head of research at Prudent Broking Services on various stocks and how to trade them.

Stock Talk

Hold IndusInd Bank: The stock has been an outperformer and it is overbought on charts and can remain so going ahead. The stock has strong support at Rs 1,390 and investors should hold with stop loss at support levels.

Hold Yes Bank: The stock is overbought and can remains so. Investors should hold this stock with stop loss at Rs 1,550.

Buy Reliance Industries: Correction in this stock is a good opportunity to buy for initial target of Rs 1,500 and an eventual target of Rs 1,650.

Avoid Aurobindo Pharma: The stock is trying to form bottom around Rs 600-620 and unless it starts making higher top higher bottom formation on weekly charts, investors should stay away from Aurobindo Pharma.

Buy Fortis Healthcare: The stock is coming out of resistance of Rs 200 and it can do well from an investment perspective.

Hold Sun TV: The stock has been our top bet and is looking good on charts. Investors can hold this stock with stop loss at Rs 810 for target of Rs 890-900.

Buy DLF: The stock is confirming higher top higher bottom formation on monthly charts and once it sustains above Rs 170 it can go up to Rs 206.

Disclaimer: Investors are advised to make their own assessment before acting on the information.
 

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