290-300 a decent level to get into Glenmark.: Ashwani Gujral, Market Strategist

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now talks about Glenmark pharma, HCC and NHPC.

What is your take on Glenmark pharma, HCC, NHPC on the charts?

HCC tried to climb above 50 but started declining again. Once it breaks 3650, you could see much lower levels - probably something closer to 30-31 is possible.

NHPC is similar to infrastructure stocks. If it breaks 2650 kind of zone, it could go even lower to about 22-23. So there is nothing out there.

Glenmark tends to have these periodic bouts of bad news and generally if you buy when there is a bad news, it tends to have periods of good news as well. So around 290-300 may be it is time to get into Glenmark and play when it gets good news around 380.

Pharma will periodically get this kind of news and it should be used to buy good stocks at support levels. Previously also it had this kind of news but bounce backed quite a bit from lows of about 160. So 290-
300 seems to be a decent level to get into Glenmark.