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Sunday, August 23, 2009

Buy Stocks Of Glenmark Pharma For Short Term Gain

Investment Advisor SP Tulsian has recommended to buy stocks of Glenmark Pharma for short term gains.

Tulsian's stock recommendation: Whatever reaction had to come has come in the Glenmark Pharma share price because we have seen that happening in the past also maybe on some of the drugs. But I think the drugs, which we are talking right now has not otherwise expected to give very good returns to the company because it was quite speculative with the success of that drug. So Rs 210 looks to be a reasonable price for a trader as well as an investor.

I do not think that looks to be if a technical analyst calls it a good support. On the fundamental basis I do not see much downside from hereon. So those who can have atleast 2-3 month horizon can go for buying stocks of Glenmark at Rs 210. You don’t have much downside from hereon but atleast expect Rs 240-245 in the next couple of months and that looks a good buy.”

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