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Short-term trend in Nifty bearish, stay stock-specific: Vinay Rajani


Despite the recent recovery from the last week s low, Nifty is still having bearish formation of lower top and lower bottom formation on the daily charts. Unless Nifty closes above 15,180, trend would be considered bearish. However, the trend of midcap and smallcap stocks has been strong and stock specific bullishness is likely to continue. Supports for the Nifty are seen at 14,760 and 14,638.
Stock recommendation:
BUY Torrent Power (390) | Target: Rs 420 | Stop-loss: Rs 370
The stock registered new all-time high in February 2021 by surpassing the multi-month consolidation. Volumes went up significantly during the price breakout. Power sector, too, has been outperforming for last one month and the trend is likely to continue in the coming days. The stock price is forming higher tops and higher bottoms. Besides, the stock has been trading above all important moving average parameters. Indicators and oscillators like RSI, MACD and DMI have turned bullish on short term ....

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Torrent Pharma shares tumble 8% post December quarter results


Shares of Torrent Pharmaceuticals dipped 8 per cent to Rs 2,545 on the BSE on Tuesday after the company reported its December quarter (Q3FY21) results, with flat consolidated revenue growth at Rs 1,995 crore, mainly due to 23.4 per cent year on year (YoY) decline in US formulations to Rs 292 crore.
The company said that the US sales was impacted by price erosion on base business & base impact of Sartan portfolio discontinuation. However, domestic revenues grew 7 per cent YoY at Rs 930 crore driven by market recovery, continued momentum in chronic brands & strong recovery in sub‐chronic brands, it said. Brazil de-grew 8.5 per cent YoY to Rs 173 crore. Germany business grew a robust 21.0 per cent YoY to Rs 265 crore. ....

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