Biocon
Assuming you had the Biocon then hold the stock as it is currently trading near its one of the strong supports which range around 200-220 price. As at broader level Indian stock market do not look into negative zone and rather it has sustain the last drop in march 23. So, the stock is in diminishing mode and does not look to at very much upside. Because it is already a overvalued stock and may gain bounce back again with broader market gains within a range of 265-280 price and also track with TA if it goes beyond 275.
But if it goes again below 210 then exit and look for other stock to invest or wait till its another bounce back to for reentry/more investment.
The company is good and profitable its just it is overvalued right now. So not much interest by new players investing into stock. So price would range bound. May sudden rise come after 1-2 years later till does not look very prominent to give return more than 12% pa for next 2 years until something like covid happen.
Certainly, only if you want to make new investment into this stock then you should buy at a price of around 230-240 price with reasonable capital on which you can bear a loss upto 15-20% because it may rise a bit with 2 year perspective around 300 price or may fall again around 200-210 price as per its currently diminishing mode and below that do not thing good to hold the stock.
Otherwise, if want to make new investment then pls do find other stock and not a diminishing mode stock.
I am not a legally authorized person to advice. Even they are also wrong in this market. So, just relate and keep the perspective which you understand and ignore others.
But if it goes again below 210 then exit and look for other stock to invest or wait till its another bounce back to for reentry/more investment.
The company is good and profitable its just it is overvalued right now. So not much interest by new players investing into stock. So price would range bound. May sudden rise come after 1-2 years later till does not look very prominent to give return more than 12% pa for next 2 years until something like covid happen.
Certainly, only if you want to make new investment into this stock then you should buy at a price of around 230-240 price with reasonable capital on which you can bear a loss upto 15-20% because it may rise a bit with 2 year perspective around 300 price or may fall again around 200-210 price as per its currently diminishing mode and below that do not thing good to hold the stock.
Otherwise, if want to make new investment then pls do find other stock and not a diminishing mode stock.
I am not a legally authorized person to advice. Even they are also wrong in this market. So, just relate and keep the perspective which you understand and ignore others.
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