Exit Dr Reddys Lab, says Shardul Kulkarni

Exit Dr Reddys Laboratories, says Shardul Kulkarni from Angel Broking.

Kulkarni told CNBC-TV18, "I would look at moving out of Dr Reddys Laboratories. It is true that the stock is in higher top higher bottom but then the weekly chart does not give you too much of comfort. Plus what you are seeing today is that in a small downtrend the stock is actually moving downwards.' He further added, "At higher levels I would expect selling pressure around Rs 1650-1665 mark. Any positive momentum should be done only above Rs 1726-1727." Disclosure: It is safe to assume that we may have the above stock in our portfolios and we have recommended them to our clients.