Short Ranbaxy Laboratories: Vishal Kshatriya

Short Ranbaxy Laboratories, says Vishal Kshatriya, Edelweiss.

Kshatriya told CNBC-TV18, "Go short on Ranbaxy Laboratories. Stock has been in a downtrend for quite a while as indicated by formation of lower tops and lower bottoms. Stock has seen a fresh short as indicated by open interest data also we have seen a breakdown and stock has closed below its key support of Rs 470."
He further added, "Short-term oscillators continue to trade with negative bias. I will be short in the stock with a target price of Rs 440 and stop loss at Rs 486."