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BIOCON

TRIANGULAR BREAKOUT + SUPPORT & RESISTANCE OPPORTUNITY IN BIOCONThe stock has formed a descending triangular pattern which is about to witness a breakout. The stock has major support at 368 level, and it has been testing its resistance at 422 levels consecutively. Once the triangular breakout happens, the stock will move towards testing the resistance at 420-425. If the resistance is broken with good volumes, the stock can move towards 450, 475, 520 levels soon. //important levels are shown in the graph. Buy at - 390 SL - 368 Targets - 420, 455, 475, 550.
NSE:BIOCON
by angel_augustin
Biocon- CMP 412.85Biocon- 412.85. It is one of the few pharma scrips yet to participate in pharma rally. It fell with huge volumes from 455 to 376 in 2 days on 21.1.21 after announcement of Q3 results and created gap from 422 to 442. Today it went up with huge volumes highest of past one month and closed at 413. It has to stay above 423 and fill the gap for going up. It is also following a upward channel and it can break the channel at gap level of 423. For maintaining upward trend it shall stay above 422-23 range. This may happen in next week, once it happens with volumes can go to 443, 455 and above. Its results are on 28.4.21. As per option chain also huge call build up at 420 which is acting as a resistance with 400 as good put built up will act as support. But at 420 call unwinding is happening and may accelerate further from monday onwards. Today its future Oi addition is also at healthy 10% which is also an indication of longs addition.
NSE:BIOCONLong
by avlnrao63
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