Sumitomo Chemicals, Ajanta Pharma our technical analysis picks
By HDFC SKY | Updated at: Jul 31, 2025 12:18 PM IST
Open Free Demat Account
Date of Recommendation: 29th July
Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities, recommends the following stocks.
Buy SUMICHEM @ 608, Stop loss 575, Target 670. Timeframe 2-3 weeks
The downward correction of the last one week seems to have reversed up so far this week.
- We observe a formation of crucial higher bottom reversal pattern at Rs 576 levels recently.
- The stock price is in an attempt of moving above the hurdle of previous swing highs around Rs 615-620 levels.
- Volume has started to expand during upside breakout in the stock price and RSI shows positive indication
Buy AJANTA PHARMA LTD @ 2827, Stop loss 2700, Target 3080. Timeframe 2-3 weeks
- The Pharma stock price was in a rounding bottom type formation over the last few months, as per weekly timeframe chart.
- We observe formation of bullish pattern like higher tops and bottoms as per smaller timeframe charts.
- Currently, the stock price is in an attempt of showing upside breakout of few weeks range around Rs 2850 levels.
- Volume and RSI patterns are indicating positive bias for the stock price ahead.
Disclosure:
I, Nagaraj S Shetti, (Graduation – BA), authors and the names subscribed to this report, hereby certify that all of the views expressed in this research report accurately reflect our views about the subject issuer(s) or securities. SEBI conducted the inspection and based on their observations have issued advise/warning. The said observations have been complied with. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report.
Research Analyst or his/her relative or HDFC Securities Ltd. does not have any financial interest in the subject company. Also Research Analyst or his relative or HDFC Securities Ltd. or its Associate may have beneficial ownership of 1% or more in the subject company at the end of the month immediately preceding the date of publication of the Research Report. Further Research Analyst or his relative or HDFC Securities Ltd. or its associate does have/does not have any material conflict of interest.
Any holding in stock – NO
For detailed disclaimers & disclosures please refer to https://www.hdfcsec.com/research-analyst-disclosure-and-disclaimer
