Kunal Bothra, Head of Advisory at LKP Securities told CNBC-TV18, "In terms of technical’s as well over the last five six trading sessions Persistent Systems has almost lost 20-25 percent from levels of Rs 850-900 and the market is telling you something at least in terms of this particular stock that the selling pressure which just started probably a week back is going to extend probably a further bit more."
"It makes sense to have a stoploss, the ideal stoploss for Persistent could have been at Rs 800 levels but the stock is not far away from those stoploss levels, so you should exit the stock. Some of the other stock which you can look forward, I particularly like Dishman Pharmaceuticals & Chemicals from long-term basis as well. Stock is trading at Rs 170 odd levels, so from a one year time horizon you could look at least Rs 200-220. So, I would recommend a switch from Persistent to Dishman Pharma," he added.
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