Buying opportunity seen in Ranbaxy Labs, says Sukhani

Buying opportunity is seen in Ranbaxy Labs and one can book profit in Jubilant Foodworks, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, “For Ranbaxy at current levels buying is suggested. This buying is for people who are taking positions or making an investment. So even at Rs 560 it is worth going into it. The reason why traders should be a little aware of chain circumstances is because the Nifty itself becomes uncertain repeatedly.”
He further added, “For investors Ranbaxy is a buying opportunity. For traders you probably want to enter Ranbaxy if the market becomes stable. Sun Pharma is a buy, but there is a lot of patience required. I think Sun Pharma will go into a consolidation that may take many days.”
“Jubilant Foodworks is in an uptrend, we see these periodic dips and corrections that is just part of an ongoing upmove. The rallies have come because the trend is clearly up. This is becoming a repetition for today. The markets themselves have become a bit uncertain. So buying a stock after a 4 percent rally is not a good idea. We should always be looking at strong stocks like Ranbaxy, Jubilant Foodworks to be bought at dips and today is not a dip. This is a time to take profit and wait for that next downturn in the cycle.”