Buy Wockhardt, says Kunal Saraogi

Kunal Saraogi of Equityrush recommends buying Wockhardt with a target of Rs 1080.

Kunal Saraogi of Equityrush told CNBC-TV18, " Wockhardt  is not market correlated. It has got a trajectory of its own. The stock has a big gap up today which will translate into a bigger move going forward. It has got a very nice looking ascending triangle on its daily chart and if the pattern works out then the stock can get to Rs 1080 which can be a target. It can well go to Rs 1100 also. So, at the current level with a stoploss at Rs 1000 one should definitely buy the stock."

At 14:18 hrs Wockhardt was quoting at Rs 1,028.40, up Rs 31.25, or 3.13 percent. It has touched an intraday high of Rs 1,035 and an intraday low of Rs 1,017.15.

Disclosure: Analyst does not have any positions.

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