Biocon Ltd – Breakout from Resistance with Strong Volume SurgeBiocon has delivered a powerful breakout above its key resistance zone of ₹395–₹405, backed by a sharp volume expansion and strong follow-through candles. After months of consolidation within the golden zone (₹355–₹370), the stock has finally regained momentum, suggesting a potential trend reversal.
The structure now favors continuation toward the upper target zone, with EMAs aligning positively and momentum indicators supporting strength.
🎯 Key Levels:
CMP: ₹417.00 (+2.73%)
Golden Zone (Base Support): ₹355 – ₹370
Resistance (Now Support): ₹395 – ₹405
Target Zone: ₹460 – ₹475
Stop-Loss: ₹385 (on daily close basis)
📊 Technical View:
Resistance breakout with strong bullish candle and high volume.
EMA crossover (20 > 50) confirms short-term bullish trend.
Sustaining above ₹405 may lead to a momentum rally toward ₹460+.
Golden zone remains a reliable base for any pullback opportunities.
🧠 View:
Biocon has confirmed a breakout after a prolonged consolidation phase. Sustained momentum above ₹405 could lead to a steady move toward ₹470 levels in the short to medium term.
