SUN PHARMACEUTICAL, JUST DIAL and DBL Outlook by Epic Research

SUN PHARMACEUTICAL, JUST DIAL and DBL Outlook by Epic Research

Indian market has been looking for direction due to lack of any triggers. Stock specific action would be seen in the companies that declare quarterly numbers. Three stock recommendations by Mustafa Nadeem CEO Epic Research.

SUNPHARMA - Stock formed a flag pattern on the hourly chart and closed above 200 EMA on the hourly chart with the good volumes. We recommend buying above 412 for the target of 420 with the stop loss of 408.

DBL - Stock performed well with good volumes and closed in green. It formed a flag on the hourly chart. The RSI is showing reversal on the daily chart. We recommend buying above 421 for the target of 428 with the stop loss of 415.

Indian Markets Remain Strong as Indices touch All-time High

Indian Markets touched all-time high during the week. The overall sentiment is cautious but the markets are still ruling strong and many stocks have touched 52-week high. Mid-cap stocks have been suffering over the last few months but blue-chips have offered good returns to investors.

Nifty ends the week with marginal gains as it remained between the range that was seen in the previous week. This is a second week that Nifty has managed to close above its previous all-time high placed around 11750. The profit booking was seen at higher levels as Nifty failed to sustain the 12K mark. Despite a Rate cut, the street was expecting more, we have seen market witnessing profit booking.

Just Dial’s IPO oversubscribed by 1.94 times

Just Dial’s IPO oversubscribed by 1.94 timesAccording to the latest data available, the initial public offering of Just Dial Ltd, which operates the local business listings site called Justdial. com, has been oversubscribed by 1.94 times during the final day of the issue.

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