Biocon has delivered a powerful breakout above its key resistance zone of ₹395–₹405, backed by a sharp volume expansion and strong follow-through candles. After months of consolidation within the golden zone (₹355–₹370), the stock has finally regained momentum, suggesting a potential trend reversal.
The structure now favors continuation toward the upper target zone, with EMAs aligning positively and momentum indicators supporting strength.
🎯 Key Levels:
CMP: ₹417.00 (+2.73%)
Golden Zone (Base Support): ₹355 – ₹370
Resistance (Now Support): ₹395 – ₹405
Target Zone: ₹460 – ₹475
Stop-Loss: ₹385 (on daily close basis)
📊 Technical View:
Resistance breakout with strong bullish candle and high volume.
EMA crossover (20 > 50) confirms short-term bullish trend.
Sustaining above ₹405 may lead to a momentum rally toward ₹460+.
Golden zone remains a reliable base for any pullback opportunities.
🧠 View:
Biocon has confirmed a breakout after a prolonged consolidation phase. Sustained momentum above ₹405 could lead to a steady move toward ₹470 levels in the short to medium term.
The structure now favors continuation toward the upper target zone, with EMAs aligning positively and momentum indicators supporting strength.
🎯 Key Levels:
CMP: ₹417.00 (+2.73%)
Golden Zone (Base Support): ₹355 – ₹370
Resistance (Now Support): ₹395 – ₹405
Target Zone: ₹460 – ₹475
Stop-Loss: ₹385 (on daily close basis)
📊 Technical View:
Resistance breakout with strong bullish candle and high volume.
EMA crossover (20 > 50) confirms short-term bullish trend.
Sustaining above ₹405 may lead to a momentum rally toward ₹460+.
Golden zone remains a reliable base for any pullback opportunities.
🧠 View:
Biocon has confirmed a breakout after a prolonged consolidation phase. Sustained momentum above ₹405 could lead to a steady move toward ₹470 levels in the short to medium term.
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Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.