Ashwani Gujral, Technical Analyst is of the view that Ranbaxy Laboratories has support at Rs 360-365.
Gujral told CNBC-TV18, "Ranbaxy Laboratories had a support of about Rs 440 but even gut stocks are now no longer classic defenses. The next support out here could be around Rs 365 and clearly Ranbaxy has broken down from an uptrend, an uptrend which literally tripled its price. So that should find support now around Rs 360-365 and probably leads to move above Rs 430 for any kind of renewed upmove."
