Resistance Break: Price has surged to ₹419, breaking above the long‑term resistance zone around ₹419. This level has been tested multiple times historically, making the breakout significant.
Momentum: RSI (14) at 65.1 shows strong bullish momentum, but not yet in overbought territory.
Volume: The breakout is backed by strong volume, confirming buyer conviction.
Trend Context: After prolonged consolidation, Biocon is showing signs of a trend reversal and potential continuation to higher levels.
🎯 Upside Targets (if breakout sustains):
Target 1: ₹440 – immediate extension above breakout
Target 2: ₹470 – prior swing resistance zone
Target 3: ₹500 – psychological round number & measured move projection
🛡️ Stop Loss:
Conservative: Below ₹400 (recent support zone)
Aggressive: Below ₹385 (structural support from prior base)
Momentum: RSI (14) at 65.1 shows strong bullish momentum, but not yet in overbought territory.
Volume: The breakout is backed by strong volume, confirming buyer conviction.
Trend Context: After prolonged consolidation, Biocon is showing signs of a trend reversal and potential continuation to higher levels.
🎯 Upside Targets (if breakout sustains):
Target 1: ₹440 – immediate extension above breakout
Target 2: ₹470 – prior swing resistance zone
Target 3: ₹500 – psychological round number & measured move projection
🛡️ Stop Loss:
Conservative: Below ₹400 (recent support zone)
Aggressive: Below ₹385 (structural support from prior base)
Trade chiuso: obiettivo raggiunto
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.