Stock picks by Ajit Mishra of Religare Broking: Buy Glenmark Pharma, IGL

Glenmark Pharmaceuticals has recently witnessed a breakout with a noticeable rise in volume, after spending nearly 4 months in a consolidation range of 460-515 levels

Colgate Palmolive (India) Limited

Recommendation: Buy 

Last Close: 1,564.65

Initiation range: 1,560-1,570

Target: 1,700

Stop loss: 1,520

We're seeing a mixed trend within the FMCG pack and Colgate has been consolidating in a range while holding strongly above the support zone of short-term moving averages. All indications are in favor of a breakout soon. Traders shouldn't miss this opportunity and accumulate in the mentioned range.
 

Glenmark Pharmaceuticals Limited

Recommendation: Buy

Last Close: 530.70

Initiation range: 526-530

Target: 580

Stop loss: 505

Most pharma stocks are participating in the recent rally and Glenmark has also resumed the trend. It has recently