Glenmark, Auro Pharma, Wockhardt: Top pharma stocks to trade— Key levels, targets & more

Indian equity benchmark indices erased early gains and settled on Monday on the back of renewed geopolitical tension, moving towards risk-off sentiments. Traders will be looking at trade deal negotiations between the US and India. The BSE Sensex dropped 508.40 points, or 0.68 per cent, to close at 74,267.34, while NSE’s Nifty50 declined 165.15 points, or 0.70 per cent, to end at 23,382.60.

Select buzzing pharma stocks including Glenmark Pharmaceuticals Ltd, Wockhardt and Aurobindo Pharma Ltd are likely to remain under the spotlight of traders for the session today. Here is what  Jigar S Patel, Senior Technical Research Analysts at Anand Rathi Share and Stock Brokers has to say on them ahead of Monday’s trading session:
 

Wockhardt | Book partial profits | Target Price: Rs 2,420 | Stop Loss: Rs 2,100

Wockhardt Ltd has witnessed a strong rally and is currently trading significantly above its 20-day and 50-day exponential moving averages (DEMA), indicating an extended price structure. Such sharp deviations from key moving averages often increase the probability of a mean reversion move. Momentum indicators are also signaling caution, with both MACD and DMI hovering in overbought territory, suggesting that the stock may be vulnerable to profit booking or consolidation in the near term. Investors may consider utilizing any pullback rally or bounce to book partial profits. On the downside, immediate support is placed near Rs 2,100, while resistance is seen around Rs 2,420.
 

Glenmark Pharmaceuticals | Range-bound | Resistance: Rs 2,300 | Support: Rs 2,100

Glenmark Pharma recently faced strong resistance near the yearly pivot level of Rs 2,400, a zone that has acted as a hurdle on multiple occasions, indicating significant supply pressure. The formation of multiple tops around this level suggests a lack of buying conviction at higher prices and raises the possibility of further consolidation or corrective action. The stock’s overall price structure remains cautious in the short term, and investors may consider booking profits on any meaningful bounce. Immediate support is placed near Rs 2,100, while resistance is expected around Rs 2,300. A decisive move beyond these levels may determine the stock’s next directional trend.
 

Aurobindo Pharma | Buy | Target Price: Rs 1,510 | Stop Loss: Rs 1,360

Auro Pharma is currently witnessing a healthy pullback after delivering a decisive breakout above its yearly pivot level of Rs 1,360. From a technical perspective, the breakout has turned the earlier resistance zone into a strong support area, making Rs 1,360 a crucial level to watch. As long as the stock sustains above this support, the broader bullish structure remains intact. The ongoing correction appears to be a retracement within an uptrend rather than a trend reversal. We expect buying interest to emerge near the Rs 1,360 zone, which could trigger a fresh upside move toward Rs 1,510 in the coming weeks. A close below Rs 1,360 may weaken the positive outlook.