New Member
I hope you do not mind me joining here, but I've been watching Biocon rather closely.

Taking aside the fundamentals, I engage the market from a technical point of view. Here's my analysis on BioCon:

BioCon Daily

Price has broken a long term up trend line, connected from March 16, 2009 low. Inset shows a closer look at price action upon the break (highlighted in red). Price retested the trend line and at bar 1, bearish engulfing bar reflects the sellers momentum; this indicates previous buyers taking note of this up trend line and cutting loses.

Bar 2 is a strong bearish continuation, closing below previous swing low at 'B.'
Taking ratios into analysis, we have a possible AB=CD completion with D point at 310 - 331.50 area (green highlighted). The area, if you look left, is a former rectangle consolidation before the break out to 472.55 high.

Am watching for possible support at this area to long, but am watching 357.5, which is previous B swing point for possible resistance; any resistance at 357.5 will likely indicate a down trend continuation.
Why do you think all big pharma stocks were down yesterday even after good results?

Also, Biocon doesn't seem to be a favorite with leading fund managers like Prashant Jain. Any reason why? They seem to be hoarding up Sun Pharma.

Also, the insulin drug by Biocon seems to have hit a wall so wonder if there is an upside at all.


New Member
Probably the hoarding is due to the front of the pack, which have moved to that direction.

Adding to that, they would probably want to cherry pick pharma stocks to put in their basket.

Would love to hear opinions.

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