Biocon has target of Rs 260: Sukhani

Sukhani told CNBC-TV18, "Biocon’s immediate intraday short-term target is Rs 260. Biocon after a significant rally from Rs 200 reached Rs 260 and then consolidated. That consolidation should be resolved on the upside. Yesterday it saw big gains and that suggests that this is a consolidation and not a distribution."

He further added, "In any case most stocks in this market are following the Nifty and if that is so then it’s not the immediate target. Once it crosses Rs 260-265 threshold then it has the potential to add significant momentum on the upside. So day trader should look for further gains today or build a position and maintain it."

"The Nifty has made a bullish pattern and broken out and DLF did the same. So I would be upbeat on DLF. I would look at Rs 225 and say it could go even higher. Once momentum builds in the market a lot of things are just brushed aside."

Disclosure: I have no personal holding in the above stocks.