Jan 25, 2013, 10.27 AM | Source: CNBC-TV18
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Dr Reddys Laboratories.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
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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