Biocon stock during COVID 19 has converted into a downtrend and it made a low of @245 after that bicon started moving in an uptrend, starting from @ 245 it crossed the 200 EMA and started surging bullishly and made a high od @488, now the stock have once again converted into a downtrend. Biocon has broken its key support at 200EMA and now it's trading at a price of 393.50.

If you are looking to make an long-term investment in biocon than you should definitely go for it and add it to your portfolio.

Right now biocon is trading below the 200EMA so you need to wait for the stock to break the EMA .You can follow the stock on the daily time frame chart.

Happy trading
Analysis by
Rohan Masiwal

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