More upside seen for pharma: Ashwani Gujral, ashwanigujral.com
Pharma is a good space because inflation or no inflation, people need to have drugs. So that will keep you safe.
By 
|
| ET Now spoke to Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, on his market call for the day.
What about the strength across the pharma universe? What about Dr. Reddy’s and Sun Pharma?
Sun Pharma basically could retest levels of Rs 510 and in case the previous high is crossed, you can even go to levels of Rs 550. Pharma is a good space because inflation or no inflation, people need to have drugs. So that will keep you safe and probably give you more upside in market uptrends.
Dr. Reddy’s has found consistent support around Rs 1620 levels. It seems that this correction in Dr. Reddy’s is getting over at those levels and we could see Rs 1850 coming back on Dr. Reddy’s. Ranbaxy is also showing consistent strength. So pharma is one space which is carrying on its outperformance from last year whereas the other outperformers have fallen by the way side.
What about the strength across the pharma universe? What about Dr. Reddy’s and Sun Pharma?
Sun Pharma basically could retest levels of Rs 510 and in case the previous high is crossed, you can even go to levels of Rs 550. Pharma is a good space because inflation or no inflation, people need to have drugs. So that will keep you safe and probably give you more upside in market uptrends.
Dr. Reddy’s has found consistent support around Rs 1620 levels. It seems that this correction in Dr. Reddy’s is getting over at those levels and we could see Rs 1850 coming back on Dr. Reddy’s. Ranbaxy is also showing consistent strength. So pharma is one space which is carrying on its outperformance from last year whereas the other outperformers have fallen by the way side.
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
ADVERTISEMENT
