VK Sharma of HDFC Securities told CNBC-TV18, "Biocon came out with better than expected results, so my suggestion is to buy 340 Call, in fact one can consider bull spread here, buy 340 Call at Rs 9 and sell 360 Call at Rs 3. Therefore, the cost will come to Rs 6 and the maximum profit that one will make is around Rs 14. The risk reward ratio is 1:2.3 which is fairly good because only five days are left for the series."
"If someone is a nimble footed trader then buy the Call and wait to book profit because this settlement or even today itself one could make some money if it is bought at the open," he said.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
