Sudarshan Sukhani of s2analytics.com is of the opinion that one can buy Dr Reddys Laboratories.
Sukhani told CNBC-TV18, "Dr Reddys Laboratories is making these new highs again. Pharma companies are on a roll, they just don’t stop. I think there is more upside here. For a very short-term trader, we could be looking at Rs 1950 and once the stock starts picking up momentum it could go anywhere. We should be buying it."
He further added, "Reliance Infrastructure had a V shaped recovery, so V shaped recoveries are normally suspect but this one has been consistent in the sense that we have seen follow-through. So the V shape did not simple collapse at any point of time."
"There was a rally then a consolidation that lasted for a month and a renewed rally. An immediate target for this could be Rs 600. At or around Rs 600 I would become very careful but for the current price there is a trade on the long side. This is primarily a day trade and a short-term trade but it is very much there."