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Biocon, VIP Ind: Trading calls by Vaishali Parekh of Prabhudas Lilladher

The stock of Biocon has been in consolidation for quite some time, maintaining the support base of 380 levels
BUY VIP INDS | CMP: Rs 376.25 | TARGET: Rs 420-430 STOP LOSS: Rs 358

The stock has corrected well from the its peak levels of 421 and, once again, has attained the base of the trend-line support near 368 levels. We anticipate a reversal and expect an upward move in the coming days. The RSI also has shown signs of bottoming out and reversing the trend to signal a buy. With the chart looking attractive, we suggest to buy and accumulate the stock for an upside target of 420-430, keeping the stop loss near 358 levels.

BUY BIOCON | CMP: Rs 395.70 | TARGET: Rs 440-450 | STOP LOSS: Rs 380

The stock has been in consolidation for quite some time, maintaining the support base of 380 levels. It has currently showed signs of improvement with a positive bullish candle pattern in the daily chart to anticipate further upward movement in the coming days. The RSI also has indicated a trend reversal to improve the bias and signal a buy. We suggest to buy and accumulate this stock for an upside target of 440-450, keeping the stop loss of 380 levels.




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