Let us see if Biocon breaks out of the triangle pattern..it moved 5.3% today, so it MAY happen..also it has been falling...if it does BO i would take a position when it reaches 390 or thereabouts. Targets would be 424, 446 and onward. Trading with SL is sensible. This is an idea, not a recommendation.
Buying here at 347. Hit SL but didn't exit. It hit 52 week low today. Will it go to 270 level?
Panchalk
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@ritu14, Pharma sector itself is sliding down in last 4-5 sessions, on Friday it was down 1.5%...anyways i cannot predict whether it will go to 270. If it has hit your SL means you cannot take loss more than that. What is your reason to hold on to it? And how much quantity do you have? Honestly, since last December 2020 Biocon has been falling...on Daily TF it hit the 200 EMA and started sliding further. I would sell. On the flip side stock market is mysterious and crazy things do happen, also this is not a recommendation, i am just giving an opinion.
ritu14
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@Panchalk, Unfortunately, I have many pharma shares in losses.
Buying here at 347. Hit SL but didn't exit. It hit 52 week low today. Will it go to 270 level?