Biocon is a buy on every declines up to 365-368: Sandeep Wagle, APTART Technical Advisory Services

In a chat with ET Now, Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, aptartindia.com, talks about Biocon.

Biocon at 374 any positional call?

We had a buy on this stock in the last week around 365-366 and we had maintained a stop loss of 359 and our short term target over this week was around 380 which it has test today but I see more strength and once above 380 to 383 and it holds, the volumes are pretty good.

I see Biocon unleash for a new range which is 415 to 430. It may not happen in the next three or four days but talk of the next one to three months, we have a target of 430 and our stop loss remains 359 and Biocon for me looking at the current pattern and volumes is a buy on every declines up to 365-368 that range, stop loss of 359.

We would talk of a 415-430 target but that will be over the next one or three months short term 390-395 remains an intermediate resistance and talk of one to three months 430 is what it can test or may be even beyond that.