Bearish Bat pattern on Daily Chart of BIOCON. SELL 299.5-300, SL 310.1, Target(s) - 291.5, 287. 0.886 comes at 301-302 but there will be some psychological resistance in the stock around 300.
CURRENTLY AT 50 % LEVEL WHICH IS VERY IMPORTANT IF IT BREAKS IT ON CLOSING BASIS IN 30 MINUTE CANDLE GO SHORT TARGET GIVEN WITH ARROW
NOTE:TRADE AT YOUR OWN RISK
This is at a good level to enter. One can enter on a pullback and around or above 281. We can see 290/300 in a few trading session. Price action wise no hurdle between 280 to 300. Good SL will be 278-275 depending on your risk reward.
BIOCON WILL TOUCH 294 LEVELS SOONER
ENTRY LEVEL.......BUY WHEN IT WILL CROSS 280.50 N HOLD AT LEAST 5 MIN...
KEEP A STRICT STOP-LOSS OF 277 ON DAILY CLOSING BASIS
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
![BIOCON: [Positional] Biocon Short Setup](https://s3.tradingview.com/s/sLoS6SSN_mid.png "[Positional] Biocon Short Setup")
