Sell Biocon with target of Rs 400: Manish Hathiramani

Manish Hathiramani of Deen Dayal Investments told CNBC-TV18, "Biocon is a sell with a target of Rs 400 and stoploss of Rs 435. There was a brief correction on this stock and the stock again clot back and attempted its resistance level of about Rs 440. It has reacted negatively over there. We see a gradual u-turn in it and it is again headed down. I feel it is showing weakness on most other technical parameters as well."

At 15:00 hrs Biocon was quoting at Rs 417, up Rs 3.80, or 0.92 percent on the BSE.

The share touched its 52-week high Rs 553.70 and 52-week low Rs 411.75 on 04 July, 2014 and 24 December, 2014, respectively.