Short Ranbaxy Laboratories: Rikesh Parikh

Rikesh Parikh, Motilal Oswal Financial Services is of the view that one can short Ranbaxy Laboratories.

Parikh told CNBC-TV18, "In the defensive space in pharma Ranbaxy Laboratories is looking relatively weak over here. The stock is trading at around Rs 532 levels. So one can look at going short on it and keeping Rs 543 as a stop loss, it can come down to around Rs 500-510 levels."
He further added, "Whereas in other defensive stocks ITC is showing some weakness but not showing momentum of going down big time or the momentum is not there. So it is sideways or some amount of weakness is still there. They are not participating on the up move."