Hold Sun Pharma, says Jitendra Panda

Jitendra Panda of Capital First Securities told CNBC-TV18, “In last series we saw huge run-up and most of the positions were rolled over long and they are still holding on. As the market overall broader sentiments had seen on the negative side and as you saw Ranbaxy Labs also getting some negative news many positions are shifting to the better pack.”

He further added, “Sun Pharma is leading there and we believe more upside there along with smaller players like Lupin. However we continue to remain bullish on Sun Pharma and we see further upside from here. So Sun Pharma could be a hold. People who are holding long positions but fresh positions can be taken with a trading view.”