Sudarshan Sukhani of s2analytics is of the view that one can buy Ranbaxy for day trading.
Sukhani told CNBC-TV18, "Because Rural Electrification Corporation (REC) is in an uptrend I am assuming that yesterday's knock was just a one-off event and therefore the stock - I am assuming it will open its lows on close by, that should be bought into and keep a tight stop loss."
He further added, "Ranbaxy is a day trading buy; some minor signs of life are there. There is a trade on the long side but I wouldn't take any long side positions in Ranbaxy, it's not a positional trade. For somebody who wants to trade for a day or two days consider going long in it."
Disclosure: I have no personal holding in the above stocks.
