Buy Cipla, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Cipla is almost like risk-on trade. It went through a deep correction. It is now coming out of that correction. We are buying on a significant deep. So this is an aggressive long position. If it doesn’t work, use a stoploss here, don't overstay but if it works, it can go back to its earlier highs."

At 10:13 hrs Cipla was quoting at Rs 386.30, up Rs 1.05, or 0.27 percent. It has touched an intraday high of Rs 387.55 and an intraday low of Rs 385.35.

The share touched its 52-week high Rs 450 and 52-week low Rs 375.80 on 16 September, 2013 and 03 June, 2013, respectively. Currently, it is trading 14.16 percent below its 52-week high and 2.79 percent above its 52-week low. Market capitalisation stands at Rs 31,016.85 crore.