Thursday, 24 September 2009

Buy Alembic, says Ashwani Gujral

Buy Alembic with a stoploss of about Rs 46, says Technical Analyst, Ashwani Gujral.

Gujral told CNBC-TV18, "Midcap pharmaceutical particularly smaller ones like Aarti Drugs, Alembic did well yesterday. So there is some sort of momentum there. Alembic you could buy with a stoploss of about Rs 46 and the target here could be Rs 54 and then Rs 57. The idea here is that if the global markets are getting into some kind of a dip, we could have probably another 100 points towards that 4,800 kind of level but that will not happen in a very sharp kind of move. You will have jagged up and down kind of days and finally we will probably end the pullback around 4,800. So the idea has to be that if you are getting a gap down, don’t go and sell into it, try to buy and play for some sort of a pullback.”

Source: Moneycontrol

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