This is likely to be followed by Indian pharma scrips, where one is already seeing the scrips up and moving. Since the MNC scrips have moved too fast in a day, there are not much trading opportunities there. On the other hand, traders are likely to zero in other potential candidates.

Viewed in this fashion Ranbaxy Lab could gather momentum on the upside. Volume has shot up to Rs.187 crore from Rs.29 crore. This shows investment buying. I recommend this scrip for both speculators as well as medium and long term investors. Even if Kargil flares up, one could hold on here for right now it is a value investment.