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

Buy Dr Reddys Laboratories: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Dr Reddys Laboratories.

Sudarshan Sukhani of s2analytics.com 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.

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