Sun Pharma looks good for long term: Prakash Gaba

Prakash Gaba of prakashgaba.com told CNBC-TV18, "I would say we did not grudge when Sun Pharma went on from Rs 170 to Rs 1,200 zone -- after such a massive upmove it goes into a contraction, it has gone into a contraction. If you are a short-term trader, you should be out but if you are a medium-term to long-term trader, I think there is strong support zones, there does not seem to be much sideways, looks like a consolidation and whenever it starts to go up, the first place of strength will be once it starts to trade above Rs 850. That is the place to go and add, then perhaps full bull move should resume then. I like the stock from a pretty long-term perspective, short-term there could be weakness."Sun Pharmaceutical Industries ended at Rs 756, down Rs 8.85, or 1.16 percent on the BSE.