Buy Auro Pharma & IPCA Labs; sell BHEL: Religare shares maiden weekly calls for 2025

Religare Broking on Tuesday shared its first weekly technical calls for the upcoming calendar year 2025. The domestic brokerage has given 'Buy' calls on shares of Aurobindo Pharma Ltd and IPCA Laboratories Ltd. Based on the technical setup, Religare has assigned a 'Sell' view for Bharat Heavy Electricals Ltd (BHEL) shares.

Benchmark Nifty today closed almost unchanged at 23,644.80. At this value, the index sealed the calendar year 2024 with an uptick of 8.75 per cent. "The strength in the pharma and healthcare sectors, along with selective buying in heavyweight stocks, is helping Nifty to curb the pace of the decline," Religare said.

"Level-wise, 23,250 is being closely monitored as the next key support, while the 23,950–24,100 zone could pose as resistance. This prevailing trend is expected to continue and participants are advised to prioritise stock selection and effective risk management," it added.

Here is what analysts from Religare have to say on these 3 above-mentioned stocks ahead of the first trading session of 2025:

1) Aurobindo Pharma | Last trading price (LTP): Rs 1,334.50 | Buy | Target: Rs 1,430 | Stop loss: Rs 1,290

Auro Pharma is gaining traction in line with the momentum in the pharma sector. The stock has broken out of a tight consolidation range, reclaiming its short- and long-term moving averages. Given the positive price action and supportive volume, it is poised to resume its uptrend after a three-month corrective phase. Traders can consider this an opportunity to accumulate and capitalise on the anticipated rally.

2) IPCA Laboratories | LTP: Rs 1,695.20 | Buy | Target: Rs 1,820 | Stop loss: Rs 1,635

IPCA Labs stands out as one of the top performers in the pharma sector, demonstrating robust price and volume momentum. The stock is approaching a bullish rounding bottom pattern breakout, signalling the potential for a continued uptrend. Its strong chart structure, coupled with a positive sector outlook, reinforces the bullish bias. Traders may consider taking fresh positions in the stock.

3) BHEL | LTP: Rs 230.70 | Sell | Target: Rs 216 | Stop loss: Rs 237

BHEL has been on a consistent decline over the past two months, following a breakdown from a distribution pattern. Continuing this trend, the stock faced resistance near the Rs 250 level and it has moved lower since then. With the potential for further downside, it is likely to retest its recent swing low. We recommend initiating short positions in the stock.