Buy Ranbaxy Lab on correction: Mohoni

Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Deepak Mohoni See what other Experts & Brokerages are saying about Ranbaxy Labs See messages about Ranbaxy Labs Ranbaxy Labs BSE | NSE 10/02/12 Are Mutual Funds betting on Ranbaxy Labs?

Technical Analyst, Deepak Mohoni is of the view that one can buy Ranbaxy Laboratories on correction.

Mohoni told CNBC-TV18, "Ranbaxy is certainly not a case of past momentum carrying on, those kind of stocks are the safest not something which is just shot up one day, you cannot trust them to continue with the move, they may they may not. But something that's been going up for a long while preferably three-four months with small corrections those really are best bets. Cipla is little closer to that sort of categorisation Ranbaxy is not." 

Disclosure: It is safe to assume that analyst and his clients may have investment in the stocks/sectors discussed.