Ranbaxy Labs (Close 505.15) : On 04.09.2012 Ranbaxy made a high of 578.40 and from there, the stock retraced 38.2% to the levels of 518. And then Stock made a high of 559.95 on 08.11.2012 and retraced 50% to the levels of 490 from the highs of 559.95. Now the stock seems to be over sold.
Short term Investors can look to go long on the stock for target of 539 and 554.