Biocon Ltd

NSE :BIOCON   BSE :532523  Sector : Pharmaceuticals

About Company: Biocon Limited is an Indian biopharmaceutical company that is based in Bangalore, India founded by Kiran Mazumdar-Shaw. The company manufactures generic active pharmaceutical ingredients (APIs) that are sold in over 120 countries across the globe, including the developed markets of the United States and Europe. It also manufactures novel biologics, as well as, biosimilar insulins and antibodies, which are sold in India as branded formulations. Biocon’s biosimilar products are also sold in both bulk and formulation forms in several emerging markets.[citation needed] In contract research services, Syngene International Limited (Syngene), a publicly listed subsidiary of Biocon.

News in Biocon: Biocon Ltd stock prices are up more than 11% from their October lows. Investor confidence in the company is improving as it posted a decent Q2 performance and also launched interchangeable Semglee (insulin glargine) recently. The new launch can lead to market share gains for Biocon thereby providing impetus to its earnings growth.

Daily Chart of Biocon:

Technical Outlook Of Biocon Share Price:

Today on 7th Dec 2021, Wednesday trading session Biocon Share price climbed 6.27% and closed at 382.80. Stock saw a trendline breakout with a huge spike in volumes. Also Stock posted good Q2 FY21 results. As per techno funda study we can expect prices to climb up from here. Combination of Fantastic breakout with Volumes plus positive news in the stock both can take price at higher levels. For the next few trading sessions stock should be in focus and hence we suggest to go long on the stock for the Targets of 440, stoploss should be kept below 370 on closing basis. If Stock closes below 370 we need to review the chart structure again.