Buy Biocon 740 Call, says Rahul Shah

Rahul Shah of Motilal Oswal told CNBC-TV18, "Biocon has been an outperformer in a pharmaceutical space. And continuously has been doing well. So, in today’s session also, the stock has moved up 2-2.5 percent from Friday’s closing, so trading almost at lifetime highs."He further added, "It is better to buy a Call option and stock looks very attractive from current levels as well. So, on a derivative front, if you look at longs built up and obviously, the stock refusing to fall below Rs 690 levels or so, but 740 Call which is available at Rs 21, that is a better strategy rather than going long on the futures. So, keep a stoploss of Rs 15 and a target of Rs 35 in that."