The upmove on this inventory has gained momentum. The inventory had surged about 5 per cent on Wednesday and has closed on a robust be aware. This rise has taken the share worth nicely above the important thing intermediate resistance degree of ₹371. The area between ₹373 and ₹371 will now act as a very good assist and restrict the draw back. Any intermediate dips from listed here are more likely to get contemporary patrons at decrease ranges.
Biocon share worth can rise to ₹400 within the subsequent few weeks. Merchants can go lengthy now at ₹379. Accumulate on dips at ₹374. Preserve the stop-loss at ₹364 initially. Path the stop-loss as much as ₹384 as quickly because the inventory strikes as much as ₹389. Transfer the stop-loss as much as ₹391 when the share worth touches ₹396. Exit the lengthy positions at ₹400.
(Observe: The suggestions are primarily based on technical evaluation. There may be danger of loss in buying and selling.)
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