For Biocon, 580-600 is possible only sustaining above 555-560;
Otherwise, 508-475 may be on the card
As par analysts, further key triggers may happen only in FY:18-19
CMP: 534
Sell either below 535 or on rise around 545-555
TGT:508-495-475*-452-430* (1-3M)
TSL> 560
Note: Consecutive closing above 560 for any reason, Biocon may further rally up to 580-600 & 695 in the mid to long term.
Biocon has a great story in late 2015 and consequently it rallied almost 40% since late Aug'15. But some analysts are now concerned over its muted earnings for Insulin capacity constraint and effect of Biosimilars in the near term, despite likely higher contribution from Syngene.
To Be Cont----
Analytical Charts:
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