Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "I have become cautious in the pharmaceutical space. We have been bullish on pharma, suddenly the stocks have stalled, Glenmark Pharma is one of the underperformers. It had a small flag like formation, broke down from it which is not good news. It is looking at much lower levels and the same applies to Cipla."
"Cipla should have gone up instead it literally crashed on the downside. So pharma is no longer a buying opportunity, it is a cautious approach and Glenmark Pharma is a short sell for today," he said.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
