Upside seen in Biocon: Amit Harchekar, IIFL

In a chat with ET Now, Amit Harchekar, Sr. technical Analyst, IIFL talks about Biocon.

What do the charts suggest for Biocon, can it move up further from these levels?

The stock has given a good breakout from a rising channel pattern above 380 and still there is a good room in the upside. We might see stock heading all the way towards 435 to 440 in near future. If you are entering at the current levels, stop loss comes directly at the range of 395. So if you are initiating long positions, you need to place a strict stop loss. Below that, we might see Biocon retesting its support levels of 380 and an upside target of 435.