Buy Dr Reddys Laboratories, says Sukhani

Sukhani told CNBC-TV18, "Dr Reddys Laboratories is a buy. Dr Reddy’s and most of the pharma stocks are probably overvalued and that may well be but sometimes momentum doesn’t care about value. It has its own dynamics. Dr Reddy’s is now ready to breakout of a multi month trading range and if it breaks out that will lead it to new highs."

He further added, "This is a stock for a position trade and for a day trade you must catch it because you don’t know when those big moves will come. So for me it is stock to be bought on almost every dip."

" SAIL is a disappointment, it has done nothing and it is falling. Now it has made new lows on Friday. For a market that is stable that is hovering around 5350-5360, for SAIL there was no need to make new lows. So SAIL is likely to remain an underperformer in a choppy market. Assuming we don’t do anything today, we will have selling ideas and there will be stocks that go down and SAIL looks like one of the leaders of that decline."