Go long in Divis Laboratories: Gaurav Bissa

Gaurav Bissa, Derivatives Analyst at LKP Securities told CNBC-TV18, "For Divis Laboratories, it would be both a near-term call as well as a longer-term call. The longer-term call still feels a little bit apprehensive looking at the market volatility but this has come out of a range, it has been consolidating, the volumes have been quite encouraging, it has come out of its range and is trading above its major averages. The momentum oscillators are trying to pick up the action."

"We may have some more consolidation coming in a day or two but overall I feel it is trading above 100 day moving average (DMA), I feel it may come out of its consolidation and it can head to targets of around Rs 1,840-1,850 in the longer run but the near-term targets of Rs 1,800 can be seen by next week or so. So I would recommend going long in the stock. The stop losse can be somewhere around Rs 1,710," he said.

Disclosure: Analyst has no personal holdings in the stock but it is possible that he may have recommended them to his clients at LKP.