Prime Stock recommendation: A pharma stock available at a bargain

1. 

   abhinav sinha

   April 17, 2023 at 11:51 am

   Hi Pavithra and Team,

   Thank you for this write up and recommendation on Cipla. While you have put forth the points on the positive fundamentals of Cipla, for capital appreciation we need to see a corresponding price action (increase in stock price). The stock price of Cipla is moving in a band of 700-900 for last 5-6 years (i purchased it at around 750 in 2018). If it continues like this, our capital will get locked with no gain or very minor gain. Do you consider near/middle term price action probabilities through technical indicators before giving the recommendation?
   1. 

      Pavithra Jaivant

      April 17, 2023 at 12:32 pm

      Hello Sir,
      Yes we do look at charts although it is definitely not the driving force as we are not comfortable with very strong upmoves (that is needed for a technical buy for such a stock) before giving a ‘buy’, given that the sector is showing some life.
      For example, according to our chart expert, the stock will need to move above 980 to add weightage to the bullish stance. Given the current market weakness, we have stated the stock needs to be accumulated. We will also come out with additional calls at levels that we are comfortable with.
      Regards,
2. 

   ksudhindra

   April 17, 2023 at 5:06 am

   Hello PI team,

   Thanks for the detailed write up, however I do not see the stock being listed as Buy under Stock recommendations. Is there any reason why just have an article not recommend as buy ?

   Regards
   1. 

      Pavithra Jaivant

      April 17, 2023 at 8:11 am

      Hello Sir,
      It will uploaded with the other recommendations shortly.
      Regards,

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