Cipla may test Rs 491, IPCA Labs Rs 477: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "Cipla has been consolidating at lower levels around say Rs 490 and yesterday it has sort of gave a signal that it is actually headed higher. My targets would be Rs 491 and I would put a stop loss below Rs 473.80 since Rs 475 in my understanding is a good support area. So I will put a stop loss there; Rs 491 is highly achievable target from that perspective." "In IPCA Laboratories I gave a buy call the day it gave a reversal signal and it is on a continuation of that move. I would put a stop loss below Rs 438 and I am looking at the same targets that I gave that day as a positional trade - Rs 459 and Rs 477. So these are the two targets from my side as far as Cipla and IPCA are concerned," he said.