Jan 25, 2013, 10.27 AM IST | Source: CNBC-TV18

Buy Dr Reddys Laboratories: Sukhani

Sudarshan Sukhani of is of the view that one can buy Dr Reddys Laboratories.

Sudarshan Sukhani of is of the view that one can buy Dr Reddys Laboratories .

Sukhani told CNBC-TV18, "Dr Reddys Laboratories is now on the verge of making lifetime new highs. It has been doing that. It has been a relatively laid back stock, but it is going up. For 2-3 days it has been in a narrow range. Yesterday it just inched up crossing that resistance level moving towards new highs. That seems to be the sign that a big upmove is coming. So it is not just a day trade. I would think that traders who are willing should take a position and carry it over to next week."

The share touched its 52-week high Rs 1,952 and 52-week low Rs 1,555 on 16 January, 2013 and 19 June, 2012, respectively. Currently, it is trading 0.4% below its 52-week high and 25.03% above its 52-week low. Market capitalisation stands at Rs 33,019.61 crore.

Disclosure: I have no holdings in the above stock.

Set email alert for


video of the day

Revival seen only post 5 quarters; like PSU banks: Emkay

Explore Moneycontrol

Copyright © Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of is prohibited.