Prefer Cipla, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Cipla has done very well and for the last three days it is in a consolidation. I would think IT and pharma stocks, the defensives should do much better. With a gap down expected in the market almost all the buying ideas will become buy on dips; there should be some dip or the other. The idea is to wait patiently for the markets or for the stocks to stop falling and then look for long ideas. Cipla is one of the better ones.”

At 09:29 hrs Cipla was quoting at Rs 703.15, up Rs 7.10, or 1.02 percent on the BSE.

The share touched its 52-week high Rs 711.45 and 52-week low Rs 366.70 on 29 January, 2015 and 24 February, 2014, respectively.