Biocon Ltd – Technical View

Biocon Ltd – Technical View (SEBI Reg. INH000019886 | For Educational Purpose Only) Biocon has given a triangle breakout on the daily chart with strong volume confirmation, indicating renewed bullish momentum after a prolonged consolidation phase. The price has surged above the upper Bollinger Band and is comfortably trading above the 20 EMA, suggesting strong buying interest and continuation potential toward the projected target near ₹445–₹450. Momentum remains robust as RSI crosses 70, reflecting bullish strength, though minor pullbacks can’t be ruled out after a sharp move. 💡 Fundamentally, Biocon continues to show improvement in its biosimilars and research-driven pharma business, with expanding global presence and improving margins — supportive for medium-term outlook. 📊 Key Levels: Support – ₹395 / ₹380 Resistance – ₹435 / ₹450 Setup – Triangle breakout with volume surge ⚠️ Disclaimer: For educational & study purposes only. Not a buy/sell recommendation.