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Sell: Rs 322
Target: Rs 298
Stop Loss: Rs 348
Target: Rs 298
Stop Loss: Rs 348
For 2-3 week,Biocon has been consolidating in the typical range of 322-348. At present, the stock is trading near its support levels. The stock price is signalling a breakdown from a “higher consolidation zone” on a weekly basis. Any break below 322 levels will lead the prices, beyond the psychological level of Rs 300.
However, the upper end of the above-mentioned range will act as resistance.
Analyst: Ravi Gangan, Mehta Equities
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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