Glenmark looks good medium term : Sharyans Resources

Your top calls are Glenmark Pharma, HPCL, Dr. Reddy and Bajaj Auto. You are becoming rather predictable for a day trader now. Give us some new ideas...

CK Narayan: You ask for shorter term ideas, these days everything is reduced to a level of being just a day or two’s boons. So most of the picks fall into that but Glenmark is not from a day trading perspective. It looks certainly something more worthwhile. There is fairly attractive news flow which has been positive. The stock had actually consolidated for quite a while and has chosen to move up with the news.

So Glenmark is something which could be looked at from a positive aspect across several weeks and months, both at the current level as well as on declines and most of the other stocks which I have mentioned are also from a similar perspective. They are good for the day, they are good for a week, they are good for a month. At the current levels, I have pullbacks. In some, they are all stocks which are into a strong uptrend and in a time when things are a little bit uncertain, I would like to stick with stocks which are showing very strong trends rather than chance may arm with something that shows a breakout here or maybe a breakdown there which would be more in the day trading domain but the stocks which I looked at are okay for a shorter term player as well as a medium term player.