Bullish on Ranbaxy: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in an interview with ET Now, talks about Ranbaxy


Ranbaxy has moved up 5.5% now, can anybody take a position out there? Other one would be Glenmark, how much of further upside do you see in this one if you see an upside in the first place?

Firstly trying to buy a stock after five days of rally is a sure way of getting trapped into a correction, so Ranbaxy probably needs to move sideways before it can move further. It looks good but wait for some kind of consolidation before you enter, it could get back to Rs 550-560 kind of levels. Glenmark was in a range of Rs 270-310, that range has been crossed and it is quite possible that if Rs 310 sustains, we should look at Rs 380-385.