If Cipla continues to go down, it may not be defensive in near future: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in a chat with ET Now gives his outlook on Cipla.

On the charts, more pain left for Cipla?

Cipla is usually a fairly good defensive stock. It does not fall by very much and that assumption is going to be tested now because it has gone off on that pretty strong drop yesterday and following up today as well. If it keeps up with its reputation of not going down too much, I would not say reputation but history, then it should bottom out fairly soon but if it continues to go down, then perhaps it would not be such a defensive in the near future.