Sell Cipla, Glenmark Pharma looks weak: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "The debt hangover is definitely there in MIC Electronics. So, probably this buy call may not really pan out and especially with a 100 point gap-down opening, there is no point expecting it to move up. But if it were to fall below Rs 26.25, maybe Rs 25.50 would be another support level to watch out for and if at all there is any rally, Rs 28.75 would be the target to watch out for and I would say, avoid this buy recommendation for today because today is not a day you play long.""Cipla showed a lot of weakness. So, you sell at current level, put a stop loss above Rs 629 and I would say that Rs 611 to about Rs 599 would be the targets to watch out for. This stock among the pharmaceutical stocks looks very weak. Another stock also looking weak is Glenmark Pharma, but that gives much more volatility, so this is a safer bet to play with," he added.