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Biocon Ltd, in the pharma sector, witnessed a 40% decline from the December 2020 high but shows signs of a bullish trend. Traders are recommended to consider buying for target levels of 325-350. The daily Relative Strength Index (RSI) is at 65.0. RSI below 30 is oversold and above 70 is considered overbought, Trendlyne data showed.
"OMCs are uninvestable due to the price gaps on petrol and diesel prices. He also considers Oil India and ONGC as inefficient companies. In the pharma space, focus on larger companies like Sun Pharma and Lupin. In the real estate sector, sales have been surprisingly strong, especially for South-focused companies. The Godrej Group's split may impact their performance. "
"Whenever we have seen a change of management like this, it has worked positively for shareholders. Look at what happened in JB Chemicals, and even then UniChem. All the acquisitions which have taken place in the pharma industry have been very positive for both the acquirer as well as the acquired company. They also have been able to unlock a lot of synergy. So I am very positive on this particular development in Cipla, being a shareholder and a disclosure, we and our clients are invested in it."