Go long in Glenmark Pharma on dip: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can go long in Glenmark Pharma on dip.

Sukhani told CNBC-TV18, "All those stocks hitting new highs are buying opportunities. For Glenmark Pharma I would be a little careful of rushing to buy because after a big up day, the stock can easily consolidate and correct but the charts are excellent. You have to mark it and whenever there is a dip, go long in it. It could actually outperform and even go against the declining market. The eventually target is Rs 500 far higher than where it is now Rs 350-360, one must go long."

He further added, "Jain Irrigation has broken down from all kinds of patterns; it is probably going to become a textbook bear market maybe in the future. Now the targets are very close. I think Jain Irrigation targets for the pattern is around Rs 65-68. So it maybe completing its worst part of the decline then it will consolidate, chop around but at this point the trade is only for 10-15%."

"Yesterday's pullback in IDFC suggests that maybe it is a buy but in my dictionary it is not that pullback is a sell. I would say a minimum decline to Rs 110 is possible but my own sense is IDFC will eventually crack and go below Rs 100."