Pharmas are quite divided: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, talks to ET Now on pharma stocks.

What's your perspective on some of the pharmaceutical stocks, the defensives essentially in this market and how you would be trading them?

Pharmas are quite divided. There are two very strong pharmas at the moment. They are Sun Pharma and Cipla. They are making all the moves. Whereas you have got a Ranbaxy that has moved up a bit in the last 2-3 days but it is far too close to its bear market lows for total comfort here.

So you have got divided pharmas over here but Sun and Cipla are certainly looking very good to hold and to buy on declines. Sun is at its all-time highs. Cipla is beginning to show signs of having bottomed out, has crossed its 200-day moving average, so that's a promising stock as well.