Glenmark Pharma has target of Rs 290, says Rahul Mohindar of Viratechindia.

Mohindar told "A bit of a contrarian call here on Glenmark, my feel is that if you look at this stock from a 6-12 month perspective, one should accumulate this stock at around Rs 210 levels and if it breaks 210, the worst I see is Rs 180, where one could accumulate further. So enter in a staggered approach, you could average on your way down so buy in two blocks I would guess. I don’t see the support zone of Rs 180-170 breaking in the long term and down a year I probably would expect the stock to do pretty well, so Rs 290 is the kind of price target I would set for someone who wants to invest into this counter.”