Cipla may touch Rs 465-470: Abhishek Karande

Abhishek Karande of SBICAP Securities told CNBC-TV18, "We are quite bullish on Cipla and Divis Laboratories at this moment. You saw earlier Sun Pharmaceuticals and Lupin going higher. So there is an intrasector shift. Now the Divis and Cipla have started moving up. So we are looking at Cipla for Rs 465-470 as our intermediate targets and stop losses to be maintained at Rs 404."

"In Divis Laboratories we see a breakout on weekly and monthly charts. So we are looking at Rs 1,420-1,440 levels," he added.

Disclosure: He may have recommended the above stocks to his clients as a part of their holdings.