 "The stock of Biocon is trading in a rising channel and is currently at the lower end of the channel")
BUY HINDPETRO | TARGET: Rs 230 | STOP LOSS: Rs 213
The stock has witnessed a golden crossover on the daily chart where 50-DMA has crossed its 200-DMA from down to up. It has also formed a strong base at around 205 levels and is making a higher top and higher bottom formation on the daily chart. The momentum indicators and oscillators are in the buy mode on the weekly scales which also supports the positive momentum. The stock also witnessed a short covering of positions and now we can expect a build-up of long positions going forward.
BUY BIOCON |
