Go long in Dr Reddys Laboratories: Amit Gupta

Amit Gupta, head- derivatives at ICICI Direct told CNBC-TV18, "I have remained positive on Dr Reddys Laboratories for quite some time now. If someone compares with Lupin or Sun Pharmaceutical Industries, the leverage has remained quite low. The OI positions are not that much high despite the stock trading near the all time high levels. I think there is some skepticism still involved as per the price is concerned in Dr Reddys Labs and that is what is boding well and the stock is not coming down."

"I will go long in the stock in Rs 2,600 to Rs 2,650 range. I will still utilise to go long and I am looking for a target of Rs 2,750 on the higher side. In the coming months, if one looks at the rollover of the positions they are still not higher because OI is not that much great. So it is possible that the fresh longs may come in again and they will take this stock further higher. So I will remain positive in this stock for the time being," he said.