I strongly recommend shorting Biocon at the current price of 612 for target of 580 with Stop Loss 617.5
8th March expected Target: 595, close: 600
The stock has shown strong resistence at 613-615 levels. Easy to spot periodic bearish fractals on a 3 min chart. News is not in its favour either. Short the stock and make money with me.
possible price can move towards up to 645 or it may fail, if it fails then you can witness sell off to 620. so tomorrow price action is crucial to watch
selling has been declined and price is showing pull back from oversold levels, only price action in coming days will lconfirm the trend whether to buy or sell side will gain momentum
Biocon has had new closing high today and is looking set to test n break 899, which then will catapult the stock into 4 digits. Is it going to oblige ?
Biocon Limited is a biopharmaceutical company. The Company focuses to reduce therapy costs of chronic diseases like autoimmune, diabetes, and cancer. Through its products and research services it is enabling access to affordable healthcare for patients, partners and healthcare systems across the globe. The Company has developed and taken a range of Novel Biologics, Biosimilars, differentiated Small Molecules and affordable Recombinant Human Insulin and Analogs from Lab to Market. The Company’s brands include INSUGEN (rh-insulin), BASALOG (Glargine), CANMAb (Trastuzumab), BIOMAb-EGFR (Nimotuzumab) and ALZUMAb (Itolizumab), an anti-CD6 monoclonal antibody. It has a pipeline of Biosimilars and Novel Biologics at various stages of development, including Insulin Tregopil, an oral insulin analog.
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BIOCON
