Indian markets have been range-bound with selling pressure at higher levels. Stock specific action can be expected in the coming days as companies will start announcing first quarter numbers.

Mr. Romesh Tiwari, Head of Research, CapitalAim has recommendations for three stocks.

ULTRATECH: BUY| Above: Rs 4620| Target: Rs 4795| Stop loss: Rs 4445|

ULTRATECH did not sustain below the levels of 4400 and moving upward from there and now sustaining above 20 & 50-day moving averages on daily chart. MACD on the daily chart has converged upward and RSI is recovering from lower levels, now placed at 51.87 levels on the same chart.

APOLLO HOSPITAL: BUY| Above : Rs 1370| Target: Rs 1425| Stop loss: Rs 1315|

APOLLO HOSPITAL tested the support of 50-day moving average around 1290 levels and showed a sharp rise from there to close above 20-day moving average on daily chart. MACD is now heading to converge upward on the daily chart and RSI showing a buy signal on the same chart, now placed at 58.76 levels.

LIC HOUSING ( Fut): SELL| Below: Rs 532 | Target: Rs 510 | Stop loss: Rs 554|

LIC HOUSING ( Fut) has formed a pattern similar to ‘three dark crows’ pattern on the daily chart. It is sustaining below 20 & 50-day moving averages on the same chart and closed on a negative note below these moving averages for the week. MACD is showing a downward crossover and RSI is showing sell signal on daily chart which is now placed at 44.07 levels.