Buy Vivimed Labs and Finolex Industries: Devang Visaria

In an interview with ET Now, Devang Visaria, Chief Strategist, devangvisaria.com, talked about Vivimed Labs and Finolex Industries.

Your views on Vivimed Labs?

Vivimed Labs has been in a steady consolidation for the past 2 months and has broken into fresh 52-week highs. So that is generally a sign of good momentum getting into the stock. On the upside, I would expect 215-220 as a 2-week target for this and downsides, 180 is a very strong support for this one.

You have a buy call on Finolex Industries. Any particular pattern that you are seeing in this chart that has got your attention?

For the past 2 weeks, the stock has been moving in a steady uptrend supported by its very near term moving average, which is the 8-day exponential moving average, right now which is placed at closer to 83 levels. Because of the steady uptrend, the stock has also hit a fresh 52-week high. So it is just a question of time before you see a fresh bout of momentum into the stock and possibly you have an extreme short term target of 90-92 and a medium term target of possibly 125 or so on Finolex Industries.