CK Narayan, MD of Growth Avenues told CNBC-TV18, "Wockhardt has been flying. It seems to have lot of room left on the higher side, evidently much bigger players at work in this particular stock and a major outperformer as far as the pharmaceutical sector is concerned. I would continue to remain a buyer and even hope for 100-150 point dips so that I can get into it."
"However, Reliance Industries has been reacting to the recent events. It refused to perform despite the fact that the whole market is focused on it, perhaps that is it's undoing, everybody expects Reliance to tear away and save the index or be the hero which will take it up to five digits and what not but that stock refuses to oblige," he said.
"Reliance Industries is trying to test its support around Rs 870 area. I am not too happy to look at it now. In a bull market we should be looking at stocks which are willing to participate on the upside rather than trying to push a cart which seems to be stuck in the mud."
Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.
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