Hello Readers,.
Biocon has given a Breakout on the Daily and the Weekly charts, and one can initiate buy Position in the stock at the current market price of Rs.262.50
The advise once again would be to invest in the stock in the staggered manner in the pieces of 40% at CMP, 30% on fall to 258 levels and 30% to 256 levels.
The stock has broken out of the consolidation range after a long time and manage to cross the resistance levels of Rs.255 with huge volumes of 17,22,380, the stock has targets of Rs.295 to be achieved within 1.5 months of time. The Stop loss now for the stock would be Rs.254 on daily closing basis.
The Risk reward ratio is very favorable for the investors as the risk is only Rs.7 but the income is Rs.33 which is roughly 1:4.5
I hope the readers have made good money in the J.K tyre and Ceat call in the last one week and also the Ambuja cement call is still open and the CMP is very lucrative for investment. Hold JK tyre and CEAT for the time frame mentioned and they should reap you good money.
