Dr. Reddy Laboratories can get back to Rs 1,800-1,850: Ashwani Gujral
Dr. Reddy is probably the strongest in the pharma lot. It has corrected towards Rs 1,470-1,480, and yesterday was a good day in Dr. Reddy.
By 
|
| In a chat with ET Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, shares his trading ideas.
What is the call on Aban Offshore and Dr. Reddy?
Aban Offshore tends to move higher with crude but overall, there is not much of a trend. If it can cross Rs 612, maybe it could get up to levels of Rs 660 in a good market.
Dr. Reddy is probably the strongest in the pharma lot. It has corrected towards Rs 1,470-1,480, and yesterday was a good day in Dr. Reddy. So, Rs 1,500-1,600 are good places to get into Dr. Reddy because if something can move up, probably pharma will outperform in a declining market. So, here the trend has not broken down. That is good news and chances are in a good healthy market, it could get back to Rs 1,800-1,850.
What is the call on Aban Offshore and Dr. Reddy?
Aban Offshore tends to move higher with crude but overall, there is not much of a trend. If it can cross Rs 612, maybe it could get up to levels of Rs 660 in a good market.
Dr. Reddy is probably the strongest in the pharma lot. It has corrected towards Rs 1,470-1,480, and yesterday was a good day in Dr. Reddy. So, Rs 1,500-1,600 are good places to get into Dr. Reddy because if something can move up, probably pharma will outperform in a declining market. So, here the trend has not broken down. That is good news and chances are in a good healthy market, it could get back to Rs 1,800-1,850.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
When Ashwani Gujral predicted current stock market selloff just a few days agoADVERTISEMENT
