Buy Aurobindo Pharma & Glenmark

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Aurobindo Pharma Ltd (NSE:AUROPHARMA) is today’s top gainer from  Nifty 50 stocks. The stock went on to close near 800 levels after getting approvals from the US health regulator for antihyperlipidemic (cholesterol) drug Rosuvastatin calcium tablets. This approved ANDA, which is bioequivalent and therapeutically equivalent to the listed drug product Crestor tablets of IPR Pharmaceuticals Inc.

The stock went ahead to create fresh one month high with significant volume. It is trading above the 10 days moving average and RSI & MACD are showing the positive momentum. It is highly likely that Aurobindo Pharma will make higher high in the coming days with stop loss of 760.

Aurobindo Pharma showing positive momentum in chart
Aurobindo Pharma showing positive momentum in chart

Glenmark Pharmaceuticals Limited is one another company benefited from the above news. The stock is currently trading above 850 levels. Glenmark is also making new one month high in the chart. It has potential to make higher high and higher low. One can buy Glenmark with stop loss of 825 levels.

Glenmark showing positive momentum in chart
Glenmark showing positive momentum in chart

 

Muthuraj Paulraj

Passionate about investing and trading in Options.