Sell Ranbaxy Laboratories: Mohoni

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Sell Ranbaxy Laboratories: Mohoni

Technical Analyst, Deepak Mohoni is of the view that one can sell Ranbaxy Laboratories. It looks like it was making a bit of a move in the last few months but now it looks like it has sort of top towered for the year. It’s looking fairly weak.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » RELATED NEWS Ranbaxy launches its sugar free brand - Chyawan Active Ranbaxy honours Indian Scientists & Young Science Scholars 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 28/05/12 Are Mutual Funds betting on Ranbaxy Labs?

Technical Analyst, Deepak Mohoni is of the view that one can sell Ranbaxy Laboratories .

Mohoni told CNBC-TV18, "Ranbaxy Laboratories is a sell and not really a buy because the stock has never really been able to catch up with its 2004 peak. It is slowly eroding throughout the entire bull market. It looks like it was making a bit of a move in the last few months but now it looks like it has sort of top towered for the year. It's looking fairly weak. On market decline it's a good short sell and for the portfolio the stock shouldn't really be in there."

Disclosure: Analyst doesn't hold the above stock.