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    HomeNewsBusinessMarketsSell Biocon, target Rs 570: Aditya Agarwala

    Sell Biocon, target Rs 570: Aditya Agarwala

    The stock may be sold in the range of Rs 610-607 for targets of Rs 580-570, keeping a stop loss above Rs 625, says Aditya Agarwala of YES Securities.

    Moneycontrol Contributor
    November 28, 2018 / 11:05 IST
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      Aditya Agarwala

      On the daily chart, Biocon has broken out from a Triangle pattern indicating a resumption of the downtrend in the stock.

      Further, the stock is trading below its major moving averages indicating weakening uptrend. A sustained trade below Rs 606 will drag it sharply lower. The stock may be sold in the range of Rs 610-607 for targets of Rs 580-570, keeping a stop loss above Rs 625.

      The author is Technical Analyst at YES Securities (I) Ltd.

      Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

      Moneycontrol Contributor
      Moneycontrol Contributor
      first published: Nov 28, 2018 11:05 am

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