Enter Ranbaxy around Rs 508-510: Thukral

Enter Ranbaxy Laboratories around Rs 508-510, says Hemant Thukral, Head, Derivatives Research, SBI Capital Securities.

Thukral told CNBC-TV18, "Pharma is one side which has started seeing long build up and in largecap itself Ranbaxy looks good to us. Again on Friday it added good open interest on the long side, the cost has increased. The stock has managed to close above Rs 510 which was acting as slightly resistance point."
He further added, "Today if you get gap down opening around Rs 508-510 one can enter it. Keep a tight stoploss of Rs 494 and a target of Rs 530-535 which we think is achievable in next 5-6 trading sessions. So in pharma we would start preferring something like Ranbaxy."