Recommending ‘stock specific trade’ in the Covid-hit Indian share market, experts have said that Gland Pharma and SBI Life are the shares that are expected to give upside movement in upcoming trade sessions. They advised stock market investors to buy SBI Life and Gland Pharma shares at their given levels. However, they strictly advised investors to maintain stop loss while taking any position in these insurance and pharma stocks.
Speaking on the shares that one can buy today Saurabh Jain, AVP — Research at SMC said, “Pharma and IT sector stocks are going to do well in this Covid-hit market. But, the way new insurance premium collection has shot up from February to March 2021, some fresh upside movement can be expected in life insurance company stocks too. I would recommend stock market investors to buy SBI Life and Gland Pharma shares for both short-term and long-term time-frame.”
Sharing the important levels that one should keep in mind while taking any position in SBI Life and Gland Pharma shares; Ravi Singhal, Vice-Chairman at GCL Securities Limited said, “One can buy SBI Life shares at ₹870 to ₹880 levels for immediate target of ₹950 to ₹980. However, one can hold the insurance counter for ₹1,080 target if the time-horizon of the investor is one month.”
On Gland Pharma shares Singhal said that the pharma counter is poised to go upside and one can buy Gland Pharma stocks at ₹2,500 to ₹2,550 levels for the immediate target of ₹2,970. He said that if an investor has time-frame of one month, then he or she can hold Gland Pharma shares for ₹3,120.
Gland Pharma share price at NSE had closed at ₹2,644 on Tuesday while SBI Life shares had a close price of ₹900.95 at NSE on the last trade session.