“The open interest in the stock was relatively subdued in the last six months. Now, analysts believe the low leverage of Torrent Pharma could benefit the stock. Torrent Pharma share price has tanked 10% so far this year. Rupee likely to appreciate amid retreat in dollar, strengthening Asian peers USDINR to trade in this range Torrent Pharmaceuticals: BUY Although the stock has seen a reduction in open interest, ICICI Direct said that with low leverage, downside looks to be very limited. “We expect Tata Power to continue its positive momentum on the back of fresh long additions,” they added. Analysts said that Tata Power has been witnessing delivery-based buying interest at the support levels of Rs 200. Tata Power Company’s share price is down 5.4% so far this year, faring better than the benchmark indices Sensex and Nifty. The brokerage firm is projecting as much as 18% upside potential within the next three months. Amid this, analysts at ICICI Direct have picked Tata Power and Torrent Pharma as their quant picks, based on technical and derivative data. However, volatility still remains high with quick reversals from the top not ruled out. On Wednesday, S&P BSE Sensex was above 53,400 levels while the NSE Nifty 50 index touched 15,900. BSE Sensex and NSE Nifty 50 continue their volatile journey with bulls and bears fighting among themselves on Dalal Street.
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