Stay invested in Aurobindo Pharma, says Ashish Kyal

Ashish Kyal of wavesstrategy.com told CNBC-TV18, "Aurobindo Pharma is an outperformer. We already saw the magic of Aurobindo Pharma in the year of 2013-2014, the way it has rallied. And post that, it is, we have seen correction and it was across the space. So, this is a very promising stock and once the down cycle is over and the next cyclical upstarts, then the uptrend should continue in this."He further added, "From the technical perspectives, one of our very important support levels that comes out is near Rs 590 where it formed a low, and showed a bounce-back. I do not rule out some few more months of consolidation from here on in order to form a base before a strong rally starts but, definitely the technicals looks good.""This has been a relative outperformer as well. So, hold on to the stock, keep Rs 590 as a very important stoploss and on upside, the resistance will come near the zone of Rs 900 which was the previous pick. So, for now, hold on to the stock for the investment perspective," he said.