Market Trading Guide: Torrent Pharma and RHI Magnesita are stocks to buy on Friday. Potential upside up to 28% – Stock Ideas

Target: Rs 3,600-3,700
Stop loss: Rs 3,098

Torrent Pharma has taken support at its 200 EMA and witnessed bounce, indicating renewed buying interest. The surge in volume during today’s session reflects buyers’ willingness to accumulate the stock as it trades above all major EMAs. Additionally, the Relative Strength Index (RSI) has given a breakout from a falling trend line, lending support to the bullish price action. The DI+ trading above DI− further confirms a positive trend. As long as the stock holds above the stop-loss level of Rs 3,098, it is expected to move higher towards the Rs 3,600 mark

(Kunal Kamble, Senior Technical Research Analyst at Bonanza)