SP Tulsian of sptulsian.com told CNBC-TV18, "Glenmark Pharma has come in the F&O from October 3 and since then we have seen a good run-up. If you see in the middle of July also it crossed Rs 600 and from there it corrected to as low as Rs 490. So whenever the frenzy starts building up, the stock moves to those levels. Now it is ruling close to about Rs 575-580. So I won't advice entry at this level because there are no positive developments on the news front except for the Q2 numbers which can be seen likely to be good by all the pharma companies.”
“I don't think this has the strength to move really beyond Rs 590-600, so no point in jumping now merely on the run-up or momentum which we have seen in last one week or so. So profit booking will be advised may be Rs 580 plus, look to enter into the stock when it corrects to level of about Rs 530 which is likely in next one month,” he added.
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