One can buy Ranbaxy Laboratories on dips, says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "Ranbaxy Laboratories is a good chart. It is not as clean as Cipla or Sun Pharma have been, but the trade is on the long side. There was a kneejerk reaction. It fell for a number of days and then started a rally. That rally seems to be sustained.”
He further added, “It is probably worth buying into. Ideally you want to buy it on an intraday dip or a small correction in the morning which we could see, but the trade is to be on the right side which is the long side.”
The share touched its 52-week high Rs 578.30 and 52-week low Rs 370.50 on 04 September, 2012 and 01 March, 2013, respectively. Currently, it is trading 23.28% below its 52-week high and 19.74% above its 52-week low. Market capitalisation stands at Rs 18,766.70 crore. Disclosure: No holdings in the stock discussed.
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