Parag Doctor, Head - Trading Strategies, Keynote Capital's Ltd told CNBC-TV18, "Cipla has a strong base around the Rs 400 levels. It has been a laggard compared to the other pharma stocks in the Nifty like Sun Pharma, Lupin etc. So, it is pretty much now in an uptrend and trying to get to similar levels, which have been seen by the other stocks."
He further added, "We expect atleast Rs 440, maybe even Rs 450 in the medium-term – that would be a good level to really book partial profits. Otherwise pharma stocks are good portfolio picks for the longer term, they are defensive stocks and it should not be a problem to hold on even for the longer term."
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