Biocon is showing signs of renewed strength after consolidating for the past few weeks. The stock has bounced from the 20-day EMA and is now trading above the 50-day EMA cluster, indicating that buyers are gradually regaining control. The RSI has also turned higher and is hovering above the 60 mark, reflecting improving momentum without entering an extreme overbought zone. On the upside, the immediate hurdle is placed at ₹428-430, which is a key breakout zone. A sustained close above this level can trigger fresh buying interest and open the door for a move towards ₹440, followed by ₹450-460 in the medium term. Strong volumes on a breakout would further strengthen the bullish case. On the downside, ₹418-415 acts as the first support, followed by ₹406, where multiple moving averages are placed. As long as the stock holds above these support levels, the overall trend is likely to remain positive. However, a decisive close below ₹406 could weaken sentiment and lead to profit booking towards ₹395-390. Overall, the daily chart suggests that Biocon is attempting to resume its uptrend after a healthy consolidation. Traders may maintain a positive bias while the stock remains above ₹406, with a close above ₹430 likely to confirm the next leg of the rally. $BIOCON

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