Aurobindo Pharma is into a downtrend: CK Narayan

CK Narayan, President Treasury, Sharyans Resources in an interview with ET Now talks about Aurobindo Pharma.

What is the call on Aurobindo Pharma?

Aurobindo Pharma has been smashed a bit on news. The news is old or new but then the fact remains that the market has actually chosen to hit it. We are down at 165 into some value area of support. So stock may try to find a bottom out here. So traders, who want to chance their arm should wait for some revival on intraday charts and if they do manage to find that, maybe they could try and go long for a small pullback but then the stock is subdued and it is into a downtrend, so really would not put in too much money into it.