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.
SHORT TERM PERSPECTIVE
| Company | Biocon Limited |
| Recommendation | Accumulate (Rs.304-Rs.306) |
| CMP | Rs.308.90 |
| Stop Loss (SL) | Rs.294 |
| Target Price | Rs.325-Rs.330 |
| Time Horizon | 2-4 Weeks |
Intermediate and long term trend is up in this stock, after a mild correction stock is trying to reverse from 100 EMA which has been acted as a major support in previous days on daily chart, clearly show buying interest among the participant on every dip and formed higher top higher bottom formation which is a bullish pattern in nature. Increasing in volume and positive diversion from oscillator indicate that stock can move higher from current level so one can initiate accumulation between( Rs.304-Rs.306) with a stop loss of Rs. 294 on closing basis for the target price of Rs. 325-330. Time frame should be 2-4 weeks.
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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