Soni Patnaik, from JM Financial Services, recently shared her insights on the Indian stock market during an interview with CNBC-TV18. Patnaik discussed the pharmaceutical sector, highlighting the strong rollovers and potential investment opportunities. Additionally, she provided specific buy recommendations for Glenmark Pharmaceuticals and Indian Hotels, citing their robust performance and anticipated growth.

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Patnaik expressed her confidence in the pharmaceutical sector, emphasizing the strong rollovers that she had observed. One of her top recommendations within this sector is Glenmark Pharmaceuticals, which has displayed an impressive 82 percent rollover rate. Currently, the stock is securely supported at the Rs 640-645 level. Patnaik believes that from its current levels, Glenmark has the potential to reach the Rs 720-740 range, indicating a significant upward movement.

Over the last month, the stock has already witnessed a notable gain of more than 12 percent, further strengthening the case for investment.

Glenmark Pharmaceuticals emerges as a strong buy opportunity based on its exceptional rollover rate and the stability it has exhibited at the Rs 640-645 level. Investors can consider initiating positions in Glenmark with the expectation of a potential rise towards the Rs 720-740 range. The stock's recent performance and overall growth prospects make it an attractive option for those seeking to capitalize on the pharmaceutical sector's momentum.

Patnaik's second buy call revolves around the hospitality sector, with a specific focus on Indian Hotels. Currently trading around Rs 390, Indian Hotels has demonstrated considerable strength in recent times. Notably, it has exhibited robust support levels at Rs 378-375 over the past three days. Patnaik recommends placing a stop loss at Rs 375 while targeting levels above Rs 430. This implies a potential upside of more than 10 percent from its current trading range. Moreover, the stock has already shown a growth of over 2 percent in the last month, reinforcing its positive trajectory.

Investors looking for opportunities in the hospitality sector can consider Indian Hotels as an attractive investment prospect. The stock's resilience and ability to maintain strong support levels at Rs 378-375 suggest a favorable risk-reward ratio. With a stop loss set at Rs 375, investors can anticipate the stock's upward movement towards the Rs 430 plus range. Indian Hotels' consistent performance and upward trajectory over the past month further support the investment case put forth by Patnaik.

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