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Jul 20, 2012, 11.41 AM IST
Avoid Dr Reddys, says Sudarshan Sukhani of s2analytics.com.
Avoid Dr Reddys , says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "Three days ago Dr Reddys came in our buy list, was just confirming a bullish pattern and in three days it has reversed itself given a pattern failure and come down significantly. So once the stock fails a bullish pattern, we have to wait patiently for a new pattern to emerge. This is not a buy on dips stock anymore, it is an avoid."
He further added, " Maruti Suzuki suggests that the strike itself is unlikely to affects its prices. But Maruti is in some kind of a base building process. That means if you are a long term investor buying Maruti at current levels is a good idea. But if you are short term trader Maruti will do what the Nifty will do. It is not very easy to make a call in the short term. In the short term Maruti can also slide if we see further corrections in the index."
"For a long term investor we are looking at Rs 1400 but support comes at Rs 1050 and the current slide could bring it back to support levels assuming that the Nifty also slides."
Action in Dr Reddys Laboratories
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May 23 2013, 09:33
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