Buy Cipla on dips, says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "We have been continuously bullish on Axis Bank once it started its upmove, Rs 850 was crossed then Rs 1000 and now Rs 1050 is within reaching distance and that is a very likely target. But beyond that we need to become very careful at some point today and certainly by tomorrow morning banks should be a profit taking opportunity and no long positions should be maintained. The run up has been before the news that is worrying."
He further added, "For the smaller private banks, I picked up DCB because it was offering attractive chart, similar charts are available in number of them like Dhanlaxmi Bank is also giving the same chart, probably even Lakshmi Vilas Bank, I haven't seen it today must be doing the same thing. So it's a question of choice, I selected DCB because I thought it was good looking."
"For Cipla the trading call is that we should wait patiently for minor correction. Somewhere around Rs 315-320 would be far better price to enter the stock. There is no rush, this market is not running away, neither Cipla is one of the out performers; it is a nice stock to buy on a dip."
