Biocon – Technical Analysis, Support and Resistance

The stock

is currently trading around ₹412. The daily chart shows that the stock has moved strongly higher from the April low near ₹340 and created a higher-high structure toward ₹440–445. However, after reaching the ₹440–445 zone the stock has entered a consolidation phase and is currently trading below the recent swing highs. The broader structure remains positive but short-term momentum has weakened. Support & Resistance: Immediate support is visible around ₹400–405 where recent price action has found buying interest. A stronger support zone is around ₹390–395. On the upside ₹420–425 is the first resistance area followed by the major resistance zone around ₹440–445 which is the recent swing-high region. A sustained breakout above ₹445 can improve the bullish setup while a breakdown below ₹390 can weaken the structure. Short-Term View: Buyers can remain positive while the stock holds the ₹400–405 support zone. Fresh buying would be stronger after a sustained breakout above ₹425 preferably with volume confirmation. If ₹400 breaks decisively short-term weakness toward ₹390–395 can be expected. Existing holders should monitor the support zones closely.