Long Bicon at the marked support area between 380-370 for the first target price of 420 with SL 365-368 . Also this time stock expecting to BO the level of resistance area tested several times. so SL can be trail. This is for your educational purpose only.
Biocon back in resistance zone.
Buy if it moves above the zone, next critical resistance at GAP of 442
Best buy would be if you get dips near 397-393 zones
Chart is self explanator, Can add near 390-395 levels for swing trades.
Note: This is strictly for education purposes. I'm still learning the concepts of stock market. I'm not responsible for your profit or loss. Do your own analysis before taking any positions.
BIOCON LTD
Technically and fundamentally it's showing a BEARISH trend, better EXIT who's in long on this stock.
Also as per the P/E ratio, it's a high expensive stock. So it's a higher risk to hold for a long time investment.
425 is your STOP LOSS if you go for SHORT.
NSE:BIOCON
Biocon trading bullish and broken the trend line and nearing to resistance and ready to brake out
Entry above the resistance and targets marked on chart.
Biocon bouncing from PRZ Rs 365 to Rs 370 Levels. One can enter long in this stock with SL Below 345 on closing basis
Expecting Rs 410 as 1st Target
RSI moving higher from 30 to 48 levels gives additional support to our view.
Do you own analysis before action on this idea.
All the best
