Sudarshan Sukhani of s2analytics.com one can short Biocon .
Sukhani told CNBC-TV18, "Biocon has been a disappointment after a sharp rally, first a big decline then a small but sharp rally, it's now suggesting that it's ready for another big decline. A lot of these stocks will do that, it's not the end of the bear market so far. So Biocon is a short sell, look for a target of Rs 245. This target could easily be exceeded on the downside, so there is no rush, if it goes in your favour stay with it."
He further added, "In short-term, it's difficult to say whether the correction in Bajaj Auto is over but certainly the market says that for the time being the selling is probably done with. All the right bullish patterns in the intraday charts are being available to us, so Bajaj Auto in any case has been an outperformer earlier."
"It's worth buying and then finding out whether it works or not. We take the trade and the chances are that quite often it goes in our favour. If it doesn't we use the stoploss. I think there is some sense that we will see a rally. How much I don't know but it's worth taking the trade."
