Ranbaxy Laboratories may touch Rs 390, says SP Tulsian

Oct 01, 2013, 05.53 PM IST

SP Tulsian of sptulsian.com is of the view that Ranbaxy Laboratories may touch Rs 390 in a week. "The delivery percentage today will be very crucial to watch out for because the strong hands which have entered into the stock seems to have come back in their second inning," he adds.

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Ranbaxy Laboratories may touch Rs 390, says SP Tulsian

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SP Tulsian of sptulsian.com told CNBC-TV18, "Maybe about a couple of weeks back we had some negative news coming in where Ranbaxy Labs corrected to Rs 330, so at that time those who are long got trapped. They went short and the shorts got created at a level of Rs 330 or so. The delivery percentage today will be very crucial to watch out for because the strong hands which have entered into the stock seems to have come back in their second inning."

"The stock has moved from Rs 280-440 in less than a month or so. I will not be surprised to see a price of Rs 390 in the near-term which maybe in a week or so," Tulsian said.

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