The stock has already given the breakout on daily candle and expecting to move further, one can buy near 477 for the targets of 499, 510 and 525.
Happy Trading!
InvestPro India Team
Note: This is for educational purpose only.
There seems to be an ascending triangle bullish breakout with good volume (not too high). There seems to be a similar breakout in the RSI as well. RSI is 54 which is in neutral zone. As per the chart it seems that the bulls are back in control post a substantial push from bears.
will go LONG on BIOCON because:
1) The price is forming a Chanel or Rectangle Pattern .
2) The price also broke the trend line .
3) The price is also under Support/Resistance zone.
4) It has touched the support (lower end of rectangle ) and may reach the resistance zone (upper end of rectangle ) .
5) Target would be the Resistance area . Book profit when it...
Enter Long in BIOCON if crosses above 630 (Aggressive Trader)
else
Enter Long in BIOCON if moves above 636
Target 1 - 648
Target 2 - 660
Target 3 - 680+
Last Swing (Higher low) 610 acts as a Stop- loss
*RECOMMENDED FOR POSITIONAL TRADE
![BIOCON: [positional] BIOCON long setup](https://s3.tradingview.com/u/UwqA7SGT_mid.png "[positional] BIOCON long setup")
