After making a marginal consolidation, Biocon has given a breakout above Rs 675-676 levels on Tuesday with higher volumes.
The daily Relative strength index (RSI) showing positive momentum and (+) DI trading above (-) DI whereas MACD trading above zero line with positive crossover, which indicates that the stock has the potential to move higher.
Traders can buy the stock in the range of Rs 675-678 with a stop loss below Rs 630 (closing) for the target of Rs 740.
Disclaimer: The author is Research Analyst, Guiness Securities. The views and investment tips expressed by investment experts on Moneycontrol are his own, and not that of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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