Buy Ranbaxy Laboratories on dips, says Technical Analyst, Sudarshan Sukhani.

Sukhani told "Ranbaxy, I think this is a stock that you want to own on every dip and I see it go much higher. It seems to be in a hurry but that will stop. It will consolidate and will also correct."

He further said, "Sun Pharma and Dr. Reddy’s Lab are the other two members of this group. There is a natural shift towards defensives anyway when the market corrects, when the valuation starts getting worrying. But beyond that there is a move in pharma which is unusual and I think which we should catch, buy it on dips, do not go short."