Long term investor can stay in Ranbaxy Labs

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Long term investor can stay in Ranbaxy Labs

Technical Analyst, Sudarshan Sukhani is of the view that long-term investor can stay invested in Ranbaxy Laboratories.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See what other Experts & Brokerages are saying about Ranbaxy Labs See messages about Ranbaxy Labs Ranbaxy Labs BSE | NSE 28/05/12 Are Mutual Funds betting on Ranbaxy Labs?

Technical Analyst, Sudarshan Sukhani is of the view that long-term investor can stay invested in Ranbaxy Laboratories .

Sukhani told CNBC-TV18, "Ranbaxy is in a very large consolidation; it has been there for 15 months now. We are at the upper end of that consolidation Rs 450-460. But usually to my sense such moves, such basing patterns last for 24 months or more. The charts also do not suggest that Ranbaxy is imminently going to breakout. I don't think so."

He further added, "So I would feel that if one is a long term investor then can stay in, whenever the breakout happens after 24 months earlier Ranbaxy will begin its bull market but that's a long wait. If one is a short-term trader then switch to either Cipla or Dr Reddy Labs."