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Price and trend forecast of BIOCON for Tomorrow, Weekly, Monthly

Biocon Limited

Symbol: NSE:BIOCON

ISIN: INE376G01013

380.05

As on 2024-12-06

236.90 (52W Low) 395.80 (52W High)

BIOCON's Today's Performance

Biocon Limited started the day by opening at 376.50 today 2024-12-06. Its shares reached a high of 381.50 and dipped to a low of 372.75 in intraday. When the markets closed, BIOCON’s stock price settled at ₹380.05 per share. Also check out its key support and resistance levels.

BIOCON Buy/Sell Targets

Tomorrow, buy BIOCON when its price reaches ₹ 380.05 with a stop-loss order at ₹ 375.13. You can set the target price as ₹ 384.98 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of BIOCON for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for BIOCON

Downside Targets Value in ₹
Tomorrow Down Target 1 383
Tomorrow Down Target 2 387
Tomorrow Down Target 3 392

Important Levels for BIOCON

Holding Levels Value in ₹
Tomorrow Up Target 1 375
Tomorrow Up Target 2 369
Tomorrow Up Target 3 366
Based on where the stock opens tomorrow, if BIOCON opens on a positive note, our first target will be ₹383. If Target 1 is achieved, we will aim for Target 2 which is ₹387.

But if BIOCON falls below the average value of ₹378.10, you can enter a sell side position with target number 1 - ₹375 and second target - ₹369 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of BIOCON

Looking at BIOCON, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, BIOCON has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for BIOCON is moderate bullish.

Tomorrow's Volume based share price Forecast for BIOCON

BIOCON's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is -28%.

Reversal detection for BIOCON

Predicted trend chart of BIOCON tomorrow for price forecast
BIOCON may trend may continue to be bullish since stock is making higher highs and we can get target of ₹376 in morning tomorrow
Target 1 tomorrow381
Target 2 tomorrow384
Target 3 tomorrow387
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with BIOCON's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if BIOCON opens on a positive note, our first target will be ₹383.45. If Target 1 is achieved, we will aim for Target 2 which is ₹386.85.

But if BIOCON falls below the average value of ₹378.10, you can enter a sell side position with target number 1 - ₹374.70 and second target - ₹369.35

BIOCON's Weekly Targets
1st Up Target 385.02
2nd Up Target 389.98
1st Down Target 371.57
2nd Down Target 363.08

As the week for BIOCON ended on bullish sentiments, we can expect further continuation of this sentiment. BIOCON's initial target will be 385.02 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 371.57 in the upcoming week.

Weekly OHLC Values
Open 375.00
High 381.50
Low 368.05
Close 380.05

Week for BIOCON started with an open price of 375.00, and the close was at 380.05. BIOCON reached the highest of 381.50 and dipped lowest up to 368.05 last week. This indicates a bullish sentiment for the week.

BIOCON full month swing targets
Monthly Up Target 1 398.47
Monthly Up Target 2 403.43
Monthly Down Target 1 358.12
Monthly Down Target 2 336.18

Targets of ₹398.47 can be expected to be reached in the coming month. Once BIOCON achieved this target, we can aim for the next upside target of ₹403.43.

BIOCON if fails to hold upside, down targets of ₹358.12 and ₹336.18 can be achieved by end of this month.

For complete three weeks if BIOCON is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as BIOCON

Symbol Name Industry
SUNPHARMA Sun Pharmaceutical Industries Limited Drug Manufacturers - Specialty & Generic
CIPLA Cipla Limited Drug Manufacturers - General
DRREDDY Dr. Reddy's Laboratories Limited Drug Manufacturers - Specialty & Generic
ZYDUSLIFE Zydus Lifesciences Limited Drug Manufacturers - Specialty & Generic
APOLLOHOSP Apollo Hospitals Enterprise Limited Medical Care Facilities

Summary

BIOCON is expected to reach the target of 383.45 in tomorrow's trading session.

After achieving the initial target in BIOCON, we will aim for higher targets of 386.85 tomorrow.

However, if BIOCON starts to trade below ₹378.10, then we will shift our focus to the sell side and aim for down targets of 374.70 and 369.35.