All, This may drop to $2.30-2.50 but after that should be a move up. We are moving into a previous consolidation area. The news etc outlook prior to the virus all look like it should move up. However, you never know so keep an eye out of course. We should see some movement this week for sure.
BIOCON (Biocon Ltd) SELL BELOW 262
BIOCON (Biocon Ltd) SELL BELOW 254.5
BIOCON (Biocon Ltd) BUY ABOVE 265
Hemraj Prajapat Trade Plans: Buy Above 230.5 with the Stop Loss of 227.75
BIOCON Sector: Healthcare Industry: Biotechnology & Medical Research Employees: 5005 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...
"Biocon is expensive as compare to its competitors and its trading above its sector's PE ratio which is 50.65. biocon PE ratio is 64.71 which is alot higher than other pharma companies who is trading below PE ratio of 30. it will get its fair value soon. Advice : Stay short.
SL 557.35 if closes monthly above 669.50, Then next target 808 CCI34 Monthly is still above 100 CCI8 is below 0 - Nice Retracement view, must jump from here.
The price action is been trading in a leading diagonal pattern which is now indicating weakness as higher prices rejected by sellers and sellers are now in dominance. I would suggest to short this one on every rise. Target 1: 850 Target 2: 825 Stoploss: 940 Trade with care, thanks for your support.