Watch the interview of Siddharth Bhamre, Angel Broking with Latha Venkatesh & Sonia Shenoy on CNBC-TV18, in which he shared his readings and outlook on Futures and Options (F&O) side of the market, specific stocks and sectors.
Below is the verbatim transcript of Siddharth Bhamre's interview with CNBC-TV18.
Biocon
Last few quarters have been disappointing for Biocon. However, on statistical front lot of short positions which got created at higher levels in the month of October, those positions have been squared off and the stock is now taking good support around Rs 400-405 zone and showing some bounce back. It has some resistance around Rs 420 but we believe this time if the stock starts moving up then it may breach that resistance.
We have aggressive price target of Rs 452. Therefore at current level on near support of Rs 402-405 one can go long and fix a very small stoploss of Rs 401 and target of Rs 452.
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