Sharmila Joshi of sharmilajoshi.com told CNBC-TV18, "From a longer term perspective, definitely we are seeing that a lot of the pharmaceutical stocks bottom out and do some kind of a catch up with the rest of the largecaps. Sun Pharmaceutical Industries' results today, you need to keep an eye because the predictability in all these pharmaceutical earnings has gone down post all the concerns that they have had in the US, etc. So, you need that clarity of the results to come in."
"In terms of appreciation, it does seem it has become slightly range bound. You did see a bit of a bounce in the pharmaceutical space, but now again it seems to be trading in a range. So for the short term I have no advice. If one is a long term investor, I would have recommended that he continue to hold," she added.