Buy Glenmark Pharma, says Gaurav Bissa

Gaurav Bissa, Derivatives Analyst at LKP Securities told CNBC-TV18, "In Nifty increased amount of volatility is expected, that cannot be rued out so I am going for low beta counters. The first one being Glenmark Pharma. It has given a clear cut range breakout above Rs 845 odd level. The volumes have been good so far, so I expect targets of Rs 895 and above."

"Overall the pharma space is looking quite robust; Midcap pharma is again going to outperform. Not only the pharma players, the large names but also the market breadth as a whole. So, I expect this stock to test Rs 900 odd level in coming days. So one can buy Glenmark Pharma keeping the stop loss at Rs 825," he said.