Buy Biocon Ltd. target Rs 644 : Sharekhan
ETMarkets.com|
Jan 23, 2018, 10.06 AM IST
Gaurav Ratnaparki of Sharekhan has Buy on Biocon with a target price of Rs 644.
The current market price of Biocon is Rs 619.6.
Time period given by analyst is month when Biocon Ltd. price can reach defined target.
Gaurav Ratnaparki has recommended to keep stoploss at Rs 543.
"The stock had taken a pause in the penultimate week, however in the last week it resumed the rally. On the weekly chart Biocon has formed a bullish outside bar, which reinforces the uptrend. The daily Bollinger Bands have started expansion after a sharp contraction, which suggests that a sharp move is in the offing," he said.
The current market price of Biocon is Rs 619.6.
Time period given by analyst is month when Biocon Ltd. price can reach defined target.
Gaurav Ratnaparki has recommended to keep stoploss at Rs 543.
"The stock had taken a pause in the penultimate week, however in the last week it resumed the rally. On the weekly chart Biocon has formed a bullish outside bar, which reinforces the uptrend. The daily Bollinger Bands have started expansion after a sharp contraction, which suggests that a sharp move is in the offing," he said.
