DrReddy's Jan futures seen rising to Rs 514

MUMBAI: Religare Securities has recommended buying futures contracts of DrReddy's at Rs 481-484, as it expects the stock to touch Rs 514 in the near-term. The brokerage sees the stock facing a "major resistance" of Rs 498.

In this strategy, Religare advices to keep a stop-loss ( a level where investors need to sell to prevent sharp losses) of Rs 471. At 11:20 AM, January futures contract of DrReddy's were at Rs494, up 1.5% from Tuesday.