Exit Dr Reddy’s Laboratories, says Kunal Bothra

Kunal Bothra, head of advisory at LKP told CNBC-TV18, “The monthly charts of Dr Reddys Laboratories seems to be bearish because in terms of candlestick pattern which we follow a lot for monthly charts or longer term charts, it has formed vertical as a bearish engulfing pattern. It makes sense to exit from this stock because my sense is that the stock could head towards Rs 2450-2470 in the next couple of weeks.

DRREDDY 2,546.85 10.10 (0.40%)