Akshay15
Short

Tremendous Loss of Momentum in BIOCON

NSE:BIOCON   BIOCON
49 4 0
Looking at the weekly chart it looks rally is tiring itself & there is huge loss of momentum in BIOCON             as ROC dropped pretty sharply. Stock can face serious correction going ahead.
Comment: One should take a look at this chart stock market cycle & decide the stage Biocon is right now here is the link: https://www.google.co.in/search?q=stock+market+cycle&client=firefox-b&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjUsYWWyYPRAhUEK48KHQqqDLkQ_AUICSgC&biw=1366&bih=659#imgrc=J8SsQwogheoFTM%3A
Good Observation..just a note that few days ago it has done highest delivery volume of 10 lacs plus on a turn over of 35 lacs..some serious buying also going on & may be its a pause & coreecting to mean on a low volume before blasting off again that only time will tell..I m extremely bullish for 2017 on BIOCON
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Akshay15 RakeshShah
@RakeshShah, If you have it sell it bcoz the levels you are seeing wont come for next one or two year, or at least buy put options to hedge your longs.
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RakeshShah Akshay15
@Akshay15, Options play is one in which you lose 9 out of 10 times ..have longs only with contingency to add more on falls
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Akshay15 RakeshShah
@RakeshShah, Just to tell you that deliverable % on that day was only 29.25% of total volume which is low
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