Dear Savvy,
Ranbaxy ever since May'06 is in a downtrend, although the indices have consistently made major tops, this scrip has not been able to pierce it's previous tops, (500 in May'06, 450 in Oct'06, 430 in Jan 07, 401 in May 07 and 370 in July'07, these are the significant lower tops this scrip has managed to achieve in the last 12 months, this shows that supply is exceeding demand, many holding this stock are stuck and looking for an opp. to get out of this, causing this scrip to go down every time it has tried to come up, thus the possibility of this scrip touching 400 technically in the short term remains bleak. As u have mentioned that you do not mind holding long term, I would suggest that you keep a target for this scrip and whenever in the short term / long term it reaches there, u move out of this scrip.