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BIOCON

Biocon - Past view and current DilemmaBiocon - It always had long consolidated years and the only big move since beginning was from 79rs to 200+ was way back 4 years ago. A significant 200% up in 2-3years. More often than not, the price consolidation periods were longer than that of the up runs the stock had. At curent levels, the volume candle of this week is shorter than that of the previous week, which in my view signifies a hesitation from traders to increase the price action. This has also resuted in some profit booking. Given that the market for Pharma is in the uprise, there were more than few companies which hit their new 52 week highs, beating their relative previous highs again and again. Biocon stands as an exception here, as it did not capitulate on the Pharma uprise trend. However, given that the earnings grew year on year 3.41% up and net sales standing rs 1581 cr, OI being almost close to 3.8% up AVG, if it manages to close above 375 in the upcoming week, the stock may see levels of 390-428. To conclude, Biocon may not see a speed up in its price action and once it reaches the 428 level, we may further see another consolidation period, unless there is surprise element in store, with regards to earnings for next quarter and the next. View: Can go long with a stop loss of 310. 1-1.5 years which it may take to see 35-45% returns. Note: Views are personal and meant for education purpose only. I highly appreciate your comments, views or any efforts you put towards sharing knowledge on markets.
BSE:BIOCONLong
by kalyanbharathp
1
Biocon Stock very strong uptrend & bullish zone. In all Time frames Biocon stock is trading above the 50 EMA & in uptrend direction will going to create history . This stock will ready to record all time high. Above 395 stock can be taken for long entry for the target level of 405 to 415 . Now as a chart analyst we don't have the upper resistance level for the stock. So keep trailing your stop loss while trading. Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask .kindly follow & like for more educational ideas.
NSE:BIOCONLong
by Tech_stock_trader
BIOCON SHORT INTRADAYBearish trend analysis, Detail within chart. BIOCON This idea is an Intraday call. THIS short position is recommended to be taken within 10-30 min of publishing the idea. Intraday position vary to frequently and you need to be vigilant and active in taking Intraday trades. *DISCLAIMER* Trading equity (or any other financial market) involves substantial risk, and there is always the potential for loss. Your trading results may vary. No representation is being made that any associated advice or training will guarantee profits, or not result in losses from trading.
NSE:BIOCONShort
by TJalam