Angel Broking: BUY Godrej Properties and Natco Pharma for Short Term

Angel Broking: BUY Godrej Properties and Natco Pharma for Short Term

Angel Broking has suggested two BUY Call for short term investors. As per a recently published report by Sameet Chavan, Chief Technical & Derivatives Analyst at Angel Broking, short term investors can buy Natco Pharma and Godrej Properties as both the stocks are looking strong for quick gains.

Pharmaceutical sector has been a favorite among investors after COVID- 19 sell-off witnessed in March 2020. As the markets recovered, pharmaceutical stocks touched new 52-week highs and many of these stocks are looking strong on technical charts. Among pharmaceutical stocks like Dr Reddy’s, Sun Pharmaceutical, Cipla and Natco Pharma, Angel Broking is betting on Natco Pharma. Natco Pharma is currently trading at Rs 795. Short term traders can buy the stock with target price of Rs 850. Angel Broking has suggested a Stop Loss of Rs 743. The call offers almost 8 percent return from current price of Natco Pharma.

The stock is hovering around its 52-week high and we can see it touching new high in coming trading sessions.

Other stock recommended by Angel Broking is Godrej Properties. Short term traders can buy Godrej Properties at current market price for a target price of Rs 965. Stop Loss for Godrej Properties has been suggested at Rs 898. The stock is currently trading at Rs 920 and offers 4 percent upside from current levels.

Angel Broking Investment rationale for Godrej Properties: After witnessing a spectacular rally in June, this stock did nothing during the entire July. It slipped into a consolidation mode and kept hovering around the 200-day SMA. Last Friday, the stock gave a tremendous move after coming out of the long slumber.