Avoid Ranbaxy; bullish on Sun Pharma, Cipla: Ashwani Gujral

In an interview with Et Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com shares his views about pharma stocks.

ET Now: You were hot on pharma stocks, how would you read into the morning weakness in pharma stocks?

Ashwani Gujral: Ranbaxy is weak because of some news but it is also fairly close to support zone of 400-420 but only a part of pharma is doing well.

So Sun Pharma, Cipla, those are better stocks to be in. After this early morning weakness, Dr. Reddy’s is probably an opportunity to get in. I would avoid Ranbaxy for the moment as it is too much news driven.