Buy Glenmark Pharma, target Rs 1200: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "We are quite positive on Glenmark Pharma. The stock is trading near to lifetime high territory. It has seen built up of long positions by more than 10 percent in last few sessions. We are expecting this momentum to continue, so recommending to buy with stop loss of Rs 1,120 and expecting an upside target towards Rs 1,200."At 12:43 hrs Glenmark Pharma was quoting at Rs 1,152.70, up Rs 23.30, or 2.06 percent. It has touched a 52-week high of Rs 1,167.50.