Short Aurobindo Pharma, says Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "I recommend going short or rather sell Aurobindo Pharma. It is trading below its 50-day moving average with negative crossover also seen and it is falling with incremental volumes. The momentum indicators are also showing downward movement in the stock and the trend might be even lower in coming days."

"One can sell the stock, the target would be Rs 1250 and the stop loss can be kept at Rs 1315. If Rs 1250 is also breached then it can fall to Rs 1180-1200. So, the risk reward is quite lucrative at this point of time and one can initiate shorts at these levels," he added.

At 15:15 hrs Aurobindo Pharma was quoting at Rs 1,284.40, down Rs 9.55, or 0.74 percent. It has touched an intraday high of Rs 1,304.90 and an intraday low of Rs 1,259.50.