Biocon, Long above 447 for a target of 580+

nitinshm Updated   
It seems Biocon has completed its consolidation. Nifty Pharma has also started moving up. It has formed good base in 400-380 zone.

Buy Logic listed on chart

Entry: 447
Stoploss: 415 (on closing basis)
Target: 580 (risk reward => 1: 4 )
Timeframe: 4-6 months

Note: It can spend some more time in 440-480 zone....Conservative investors can wait for a breakout above all time high.
Comment: First milestone of all time HIGH got achieved.

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