Buy Biocon; Asian Paints good money spinner: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "Initially, in Biocon what I had suggested is actually a day trade but a disclosure from my side that I have actually recommended at lower levels, close to about Rs 800 to all my clients for a medium to long-term buy and where I see this going up into 4-digits or even much higher and for me it is a two year buy. So, from that point of view, it is a buy on dip but for the day because Biocon has come closer to its 13-day moving average which is around Rs 854, I will place a stop loss below Rs 853.50 and my targets are Rs 872 and Rs 884." "The level of Rs 885 to about Rs 900 is the zone where Biocon is attracting supplies and with the sentiment being negative today, I have kept the second target at Rs 884 and not beyond that. However, once it takes out Rs 905, it would actually go up to Rs 939-940 kind of range. However, I am very bullish on Biocon." "In Asian Paints, I have taken a very close target of Rs 1,094. The level of Rs 1,094 is a very critical support area, if this gets taken out, then it can slide down to its 50-day moving average, around Rs 1,067 and then Rs 1,050 is another support level. So, these are the three targets for Asian Paints and I would put a stop loss above Rs 1,126. My heart bleeds when I give a sell call on Asian Paints because I love this company, I love Asian Paints and Pidilite Industries because they are multi-baggers in the process. It continues to be good money spinner for any investor." "After Bajaj Auto breaches 13-day moving average in the whole run up from lower levels in the intermediate uptrend, it has always tested its 50-day moving average. So, probably we will see a test of its 50-day moving average which is around Rs 2,840. That is why I have kept the first target there and have put a stop loss at Rs 2,887. If Rs 2,840 gets taken out, the it is Rs 2,805. It is just a corrective swing; Bajaj Auto is still in a medium-term uptrend."