Sudarshan Sukhani of s2analytics.com told CNBC-TV18, “The first reason is that the pharmaceutical stocks have been flying here or there and sometimes they go through small cycles and then they come back. The second reason is technical; after a big move Ipca Labs has been consolidating for last seven days. That consolidation could be a small flag, breaking on the upside and confirming that larger move is still ahead. Therefore, we are positioning ourselves for a breakout on the upside.”
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