Pharma stocks will outperform in early phase of market rally: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com in an interview with ET Now talks about pharma stocks.

What is the call on Lupin and Glenmark?

Lupin was flat for a long time and now it is coming out of the upside and not only Lupin, lot of the other pharma stocks. So Lupin chances are can head up further to about levels of 485-490. It seems pharmas will outperform in the early phase of any rally that starts from here and Glenmark, 310 is a key level. It has been in this 270-310 kind of zone. We need Glenmark to move beyond 310 and maybe long underperformance will start becoming outperformance and you will get 355-360 on Glenmark but Lupin is much more positive than Glenmark.