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Ranbaxy Labs Intraday Buy Call

Shalini Kakkad 10 December 2007

Ranbaxy Laboratories looks interesting for intraday trading on Monday. The stock has touched a low recently and went below 400 levels. After the technical bounce back, Ranbaxy may gain around Rs 7 – 10 in today’s trading session. For intraday trading, traders are advised to keep a stop loss of Rs 404.

At current levels, the stock can be bought for intraday trading. The stock may reach a target of Rs 412 – 415 today.
On Friday, Ranbaxy closed at Rs 407.40 on NSE with a gain of 2.5%. The stock touched a high of Rs 409.90 in early trades and drifted down to 398.05 when the markets reacted at higher levels.

The stock is currently trading at a P/E of 22 with and EPS of Rs 18.47. Investors with short term view can expect a target of Rs 440 for this stock.

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