Buy Dr Reddys Labs on dips, says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "Dr Reddy is in an uptrend. It is a little choppy that is okay plus when high momentum stocks come in on the fore then pharma takes a back seat but there is nothing wrong with the trend. You want to remain long if you have it and you want to buy it on dips.
He further added, " Ranbaxy has a very poor chart. The rally we saw was essentially a bear rally in an ongoing downside bear market that rally is over. Today's big gap down decline tells us that downtrend has resumed. I wouldn't be surprised if we can see Rs 373- 380 again in the stock."
" ITC has been a disappointment. I thought maybe small dips were just that but it does not seem to be working out. In this market when a stop says okay I am not willing to be part of the momentum it is wiser to let it be and not touch it. I do not think ITC under any stretch is a short but it is a complete avoid now."
