Nifty view and stock calls by Anand Rathi: Buy Glenmark Pharma, MPhasis

Glenmark Pharma's stock is taking the support of a rising trend line

BUY NIFTY | TARGET: 11,320 | STOP LOSS: 11,100

The Nifty index continued to make a higher top and higher bottom formation on the daily chart and recently, it has taken the support of its 200-DMA which is placed at 10,860. So, as long as it trades above its 200-DMA, the overall setup looks positive. The momentum indicators and oscillators on the weekly scales are still in buy mode which hints at some buying at lower levels. The volatility index is currently near 23 levels which hints of no major movement in the short term. Thus, short term trader can initiate