Go long in Piramal Health at around Rs 400-405: Bhamre

Go long in Piramal Healthcare at around Rs 400-405, says Siddharth Bhamre of Angel Broking.

Bhamre told CNBC-TV18, "There was a build-up of more than 15-16% an open interest contract wise also it has now become fairly liquid. What we saw that when management announced that they are foraying aggressively into different businesses, people have not taken very properly in the market. Stock has come down significantly and it is now trading in a support range of Rs 410-420 odd levels."
He further added, "We are bullish in this counter. I expect probably this stock may not fall very significantly, may not give a great bounce back but if it falls back to Rs 400-405 levels, I would go long in the stock and I would have probably targets of Rs 435-440. So I would be a contra buyer in this particular stock."