Sell Glenmark Pharma, may slip to Rs 720: CA Rudramurthy BV

CA Rudramurthy BV of Vachana Investments told CNBC-TV18, "Glenmark Pharma has again faced multiple resistances at levels of Rs 830-840 zone and you can see last five-six trading days of continuous fall in the stock. Even open interest is now getting build up on the downside and this is clear bearish sign for me.""I will be a seller on Glenmark and today you have an opportunity to sell it higher and it has come to levels of Rs 780 where lot of order flow sellers are also waiting to sell. So, on rise closer to Rs 800 will be a clear sell for me on Glenmark. One can keep a target of Rs 720 with a stop loss of Rs 810 for a positional sell," he said.