Buy Dr. Reddy and sell Ranbaxy: Technical Trends

In a chat with ET Now, Sudarshan Sukhani, Technical Trends, shares his trading ideas.

What are your stock ideas for today?

We have a buy call on Dr. Reddy. It is in some kind of a correction like most others. In case of a rally in the Nifty, I expect Dr. Reddy to be one of the first to move up. Since we are holding 5400, it is a BT/ST call or may be for a couple of days.

We are short selling Ranbaxy. We have two opposing chart patterns: Dr. Reddy, which is in a correction and is moving up, and Ranbaxy, which is now in a bear market of its own. So, Ranbaxy is a short sell. It's a sell on every rally.