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Analysis of Biocon Limited.

Long
NSE:BIOCON   BIOCON LTD
Update Dt. – 11-07-2020

Price is a trap between the triangular pattern and the share is near an all-time high. On 10-07-2020 the share made the all-time high of ₹420.5 and closed at ₹414.3. Price is also taking the support of 21DEMA and 50DEMA also indicates the uptrend.

From 1st week of June, the share price was in consolidation form ranging between 380 to 400 and recently on 09-07-2020 it gave closing above ₹400 thus coming out of consolidation process.

We can conclude from this that share can give breakout in a few days as not only price but volume is in support too.
Trade active: positive news keeps coming for Biocon. Biocon vaccine has successfully entered in 4th phase of the trial. Buying can be seen at this level tomorrow. If you have share than hold or do SIP.

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