Pharma stocks not good for short-term traders: Deepak Mohoni

In a chat with ET Now, Deepak Mohoni, Director, trendwatchindia.com, shares his investment ideas.

What is the call on Biocon?

Biocon is a slow riser now but it is not doing badly. It has moved up to a five or six-week high. It seems to have formed a bottom at Rs 300 and has been rising steadily since then. But overall whenever you have a good market rally as we are in, you very rarely get pharma stocks participating. They are more in demand in times when the market is not doing so well. So, you would not find much momentum in many of the pharma stocks right now, that has to be kept in mind. Certainly for short term or intra-day traders, pharma would not be of much use. Long-term investment naturally you do under pharma stocks in the basket, no question about that.