Sukhani's view on Divis Laboratories

Sukhani told CNBC-TV18, "It is wise to be defensive because we don’t know which high beta stock will crack when and even in spite of chart patterns because chart patterns are just reflection of trader’s psychology that can quickly change. Divis Laboratories - we have a trading range at the lower end of its decline and the trading range yesterday broke out on the upside so it seems reasonable that money will come to pharmaceuticals and the chart patterns for Divis suggest that if markets remain steady, choppy, even decline, this is one stock that could inch upward."

He further added, "When markets open with a lower gap, there is no rush. You don’t have to actually buy it at Rs 915 or Rs 920, you just identify the stock, the moment you see some signs of support for the individual counter, you don’t have to wait for the Nifty but if you see Divis moving up, that is the time to go and enter it."