Buy Biocon Ltd. target Rs 615 : Prabhudas Lilladher

Vaishali Parekh of Prabhudas Lilladher has Buy on Biocon Ltd. with a target price of Rs 615. The current market price of Biocon Ltd. is Rs 574.85. Time period given by analyst is Intra Day when Biocon Ltd. price can reach defined target. Vaishali Parekh has recommended to keep stoploss at Rs 540.
"The stock has been consolidating for quite some time at around 540 levels and now has given a breakout above that range and indicates a positive bias with potential and strength to scale further in the coming days. It has also closed above the significant moving average of 34WMA. The RSI also has shown a trend reversal and we anticipate a good move upwards and with decent volume participation witnessed, we recommend a buy in this stock for an upside target of 615 keeping a stop loss of 540," she said.