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Dec 11, 2007, 03.24 PM IST
Rajesh Jain of SMC Global Securities is of the view that Cadila Healthcare has support at Rs 260-280. It has been moving sideways since last two-years. If somebody has to hold for a five-year level probably one can hold on. But if one is looking at the stock with just a month or 15-days angle, this stock is not going to give returns.
Jain told CNBC-TV18, "Cadila Healthcare has been moving sideways since last two-years and somebody sits in such stocks can loses all the patience because markets are going one side up, the stocks are going one side up and this sector overall has been just under performer to the entire market. It has strong monthly supports at Rs 280-260 levels. If somebody has to hold for a five-year level probably one can hold on. But if one is looking at the stock with just a month or 15-days angle, this stock is not going to give returns. It is going to test your full patience ahead also. I don’t see any good gains in the short-term."
Disclosure: Analysts company/clients may have a holding in the above stock.
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