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Last Updated : Mar 03, 2015 09:51 AM IST | Source: CNBC-TV18

Go long in Biocon; target Rs 464: Siddharth Bhamre

According to Siddharth Bhamre of Angel Broking, one may go long in Biocon with a target of Rs 464.

Siddharth Bhamre of Angel Broking told CNBC-TV18, "Biocon - since last two expiries we are observing, this stock has been underperformer if you count it in a pharma space. Rollovers are very less in terms of open interest, so shorts which were created in last year or last six months are not getting rolled over from January to February and February to March and stock is seeing good buying happening around Rs 415-420 odd levels in last three-four occasions we have seen that."

"We are anticipating that this stock has seen the worst and now would start performing the market. So at current levels go long with the target of Rs 464 and stoploss of Rs 428," he added.

First Published on Mar 3, 2015 09:44 am