Buy Ranbaxy on declines: Devang Visaria

ET Now spoke to Devang Visaria, Chief Strategist, devangvisaria.com, on his views on the Ranbaxy stock.

ET Now: What are your views on Ranbaxy?

Devang Visaria: Ranbaxy has been trading in between around 490-450 kind of a range and you are seeing lot of volatile moves in Ranbaxy especially on an intraday basis.

If it manages to go above 500, the trends would stabilise and you could see it rallying back to around 540-550 level but in the immediate short term, it is a good bet to buy on declines, closer to 460-450 range rather than going long at the current level.