Sell Biocon, says Kunal Bothra

Kunal Bothra of LKP Securities told CNBC-TV18, "The fact that Biocon has broken the 200 day moving average and fresh swing low, both the parameters are signaling that the stock could see some more weakness in the next couple of trading sessions. With the kind of momentum the stock is falling on the downside there could be a chance that the target of Rs 434-432 on the lower-end could probably get achieved in a very short span of time."

"I still believe that it is a very short-term call and Rs 430-425 is a good base for Biocon. So targets are very short-term oriented and the fact that trading below 200 days moving average is a good enough signal to sell Biocon," he said.

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