BUY - BIOCON LTD
CMP - Rs. 254
Target - 1: Rs. 329
Target - 2: Rs. 391
Target - 3: Rs. 442
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Timeframe - 1-2 years
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Technicals - Trendline Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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bullish changes evolving
1. inverted head and pattern
2. price crossing 200 day EMA with heavy volume
3.price bouncing from 2019 support level
4.MACD 50 -100 crossing zero line after a long timr
5.MACD 12-26 Above zero
6. price>18>50 day EMAs
can acculmulate at current price for good gains
Biocon looks good for buying for short term. Targets will be 300 and 335. Reason for trade, 23 May candle was high selling volume candle, price has closed above this candle high with good volume and price movement. This can give thrust to price movement.
Please note, I am not SEBI registered advisor, this is just my view and is for educational purpose. Please...
Biocon counter seem to have registered a reversal from long term down trend and given a close above the resistance line over C&H pattern. The Break out is significant with very high volumes
I think,
a.) we should wait for few days for the Breakout to sustain for confirmation
b.) Wait for possible retesting of the Resistance line.
The Biocon look good for the...
PHARMA: BIOCON @ 244.90 | 17-JUN-2023
Sector: Biotechnology & Medical Research
BETA: 0.61
FACE VALUE: 5
DIVIDEND YIELD: 0.61
BOOK VALUE: 78.87
SUP: 189/12
As long as this support holds, we can see 610-780, 960-1030
PHARMA: BIOCON @ 244.90 | 17-JUN-2023
Sector: Biotechnology & Medical Research
BETA: 0.61
FACE VALUE: 5
DIVIDEND YIELD: 0.61
BOOK VALUE: 78.87
SUP: 189/12
As long as this support holds, we can see 610-780, 960-1030
Biocon after a continous fall have given a pull back, but we can see it struggled to crossed 260, that is a stiff resistance...
Sure shot trading idea -- sell 260 and above CE ... and I assure it will be zero...
Biocon reached strong support level and reversal from downtrend to uptrend with closed above EMA 20. Expected target level 374.
Educational Purpose Only NSE:BIOCON
Biocon on long term count has either completed wave 4 & started wave 5 up which can reach 780-1060 levels or its forming triangle in Wave 4 of which wave A is complete & we are rising in Wave B Up so in both cases prices should remain bullish as the moves unfold we can decide if its impulse or counter trend move at least a move towards 374 is possible in wave B...
