See upside potential in IPCA Labs: Sukhani

See upside potential in IPCA Labs, says Sudarshan Sukhani, s2analytics.com.
 
Sukhani told CNBC-TV18, “Pharmaceuticals stocks have not topped out unlike banks and unlike consumer stocks which have given clear signs of topping out and they are entering 2013 with bearish patterns. Pharmaceutical luckily hasn’t done that yet. So far this momentum is strong, we will assume that higher levels are likely and possible.”
 
He further added, “IPCA Labs has just come out of a strong basing pattern so clearly on charts alone, there is a target which is higher than where we are now.”
 
“The private sector banks are now topping out and that includes HDFC, the housing finance company, in this list because it is a blue-chip and it keeps on going up. My own idea is that these stocks are no longer buying opportunities for the short-term trader. If you are having a three-year time horizon, you can buy any of them preferably ICICI Bank and that is the answer to your question but at the start of the year as a trader, I would not touch any of them on the buy side. They would be selling opportunities, whenever that opportunity comes.”