SP Tulsian of sptulsian.com told CNBC-TV18, "From December 13 to December 24 Biocon has moved from Rs 380 to Rs 480. I have always maintained the view that the technical always coincides with the expiry. I think that the technical strength which was kept alive till the expiry is going to get receded in the time to come."
"I am not saying that the negative view can be taken as a positional short for a whole of the series or maybe for a very longer time but the stock can correct to a level of Rs 436 because Rs 475 to Rs 480 seems to be the strong resistance and we have seen the profit booking coming in. So, maybe another Rs 20 correction from the current level can come in," he added.
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