Top stock recommendations by Anand Rathi: Buy Lupin, Zensar Tech

Trading calls by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers

NIFTY: BUY | TGT: 12,070 | SL: 11,865

Nifty closed in the negative territory in the last trading session; however, it seems to be forming an ending diagonal pattern on the hourly charts of which last leg i.e. wave E is still pending. So, in anticipation of wave E up one can buy Nifty for the target of 12,070 with a stop loss of 11,865.

COCHIN SHIPYARD: BUY | TGT: Rs 444 | SL: Rs 402

The stock has formed a symmetrical triangular pattern on the daily charts. The stock has provided a breakout with an increase in volumes as well as buy crossover in its momentum indicators.

ZENSAR TECH: BUY | TGT: Rs 202 | SL: Rs 181.50

The stock has provided a breakout from the falling channel and with that wave 2/b seems to have got over and wave 3/c up seems to have started. The minimum target on the upside comes to Rs 202; hence one can buy this with a stop loss of Rs 181.50.

LUPIN: BUY | TGT Rs 825 | SL: Rs 735

The stock has completed the right shoulder of an inverse head and shoulders pattern which is a bullish reversal. The overall Nifty Pharma Index has formed an inverse head and shoulders pattern and hence Lupin is likely to follow the same. The momentum indicator is well in the buy mode on the daily as well as weekly charts.

Disclaimer: Author may or may not have positions in the above mentioned stocks