tradewithamey_

Biocon-An underperforming pharma stock

Long
tradewithamey_ Updated   
NSE:BIOCON   BIOCON LTD
Biocon is among few stocks which did not participate in Pharma bull run.
However stock has recently given a big volume bounce from its demand zone.
295-300 is an important zone to watch out for as it is a confluence of trendline resistance as well as 200 Week EMA.
1st breakouts are normally traps so use pyramiding to save your capital.
If stock posts good results , we might see good move in stock.
Keep your eyes stuck on this if you like support bounce trades.
Comment:
Keep this in watchlist now.If a good bullish weekly candle is made here, we can have a pre breakout entry. I will update if such an entry is possible.
Trade active:
entry activated

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