Recommend to buy Dr Reddy at a target of Rs 2900: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his views on pharma sector.

ET Now: What has caught your eye in pharma and what is the view there for the next may be a couple of trading sessions?

Mitesh Thacker: Dr Reddy’s is recommended as it is forming a bullish pattern and I would look at significantly higher targets from current levels. So while the first target would be around Rs 2900.

Rs 3000 levels can also be scaled, there are good chances of that happening. We have had calls on Ranbaxy in the morning and one stock which give a breakout during the day was Biocon, it can head towards 535-540 in the short term.