Biocon NSE:BIOCON has been relatively unaffected by the current mayhem going on in the Pharma sector.
However, after a few days of upmove, looks to me that Bears are tightening their grip on this stock as hammering of Pharma sector continues.
I can see that the stock retraced around 61.8% of its fall from April 30 to May 7, and now it has resumed its downward journey.
Took short positions today with stop loss around 660 levels for a target near 570 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.