Glenmark Pharma has target of Rs 310- 315, says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "In Glenmark Pharma, we look for a higher target. The entire Pharma space is suggesting that it outperforms when the markets go up and it could actually go up even when the markets fall. Glenmark is part of that group. Look for a target of Rs 310-315 or even Rs 320. The only point when you go and buy in a down trending market is that you need to be very sure that the markets have stopped falling. That happens during intraday consolidations. Once that sense comes then some of these stocks on the long side will make money and Glenmark is one of them."
He further added, " GMR Infra is a buy. The point is that these stocks have been beaten down and there is no reason why they cannot go down further. So to that extent it's difficult to say what will happen. But there is a bit of consolidation, there is some relief. So if at all a trade needs to be taken, for the short term trader it should be on the long side, it should be a buying opportunity. Look for a target of Rs 24 also. My point in explaining this is that you need not take a trade in GMR at all - that is my point."
