The analyst pointed to strong support around ₹1,400 and the 200-day EMA, while highlighting the company’s exit from U.S. generics and a credit rating upgrade as factors boosting confidence ahead of Q2 results in November.
Wockhardt Pharma’s stock cooled off on Thursday after a big rebound the previous day. On Wednesday, the shares bounced back from a five-day losing streak, swinging between a low of ₹1,418.20 and a high of ₹1,497.30 before closing strong at ₹1,488.00.
Stock Levels To Watch
SEBI-registered analyst Deepak Pal said the stock has been holding firm around the ₹1,400 mark and is getting support from its 200-day exponential moving average (EMA), which suggests the downside looks limited.
He called Wednesday’s bounce a sign of renewed buying interest. If the momentum continues, Pal sees the stock moving towards ₹1,550–₹1,560 in the near term and potentially stretching to ₹1,600–₹1,610 over the medium term.
As long as ₹1,400 holds, he views the stock as attractive for buying on dips with a better risk-reward setup.
Why Sentiment Is Improving
Pal pointed out that Wockhardt’s decision to exit the U.S. generics business, along with a recent credit rating upgrade, has boosted confidence.
He said these factors were clearly reflected in the strong rebound from the ₹1,400 level and the 200-day EMA.
What’s Next
Looking ahead, Pal said the company’s second-quarter results, due in early November, will be the next major trigger.
Strong earnings, he noted, could provide the stock with more momentum and extend the recovery.
What Is The Retail Mood?
On Stocktwits, retail sentiment was ‘bullish’ amid ‘normal’ message volume.
Wockhardt’s stock has risen 2.8% so far in 2025.
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