Sell Lupin, buy Biocon on decline: Sanjiv Bhasin

Sanjiv Bhasin of IIFL told CNBC-TV18, "We had a buy around Rs 1250 in Lupin. At these levels, I would say, sell the good news beacuse large part of it is already factored in the price. The stock is up from Rs 1250 to Rs 1700. We have a negative view on pharma, Dr Reddy's Labs also surprised us on the downside. The only stock we are recommending is Biocon on decline.""For Lupin, we will wait for more guidance, may be from the numbers and the future outlook. Sell out of Lupin if you want and get into better sector stocks where visibility and guidance can be clearer," he said.