BIOCON - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 3.5

Here’s a detailed technical analysis of BIOCON (Biocon Ltd)

📊 Trend Overview

Current Status: Consolidating

Price Action: Trading slightly above both 50-DMA and 200-DMA, but momentum indicators are mixed and volume is unusually high.

52-week Index: 67.3% — relatively strong recovery from lows, but still below peak.

📈 Moving Averages

DMA 50: ₹363

DMA 200: ₹352

Current Price: ₹368

✅ Price is above both moving averages, indicating a bullish bias. However, the narrow margin suggests indecision rather than strength.

📉 Momentum Indicators

RSI (14-day): 55.2 — Neutral to mildly bullish zone. No strong momentum signal.

MACD: -0.86 — Bearish crossover, indicating short-term weakness.

Volume: 94.3 lakh vs 1-week avg of 34.8 lakh — Significantly above average, possibly due to speculative activity or institutional churn.

📊 Bollinger Bands

Price is near the middle band, suggesting low volatility and range-bound movement. No breakout or breakdown signal currently.

🔍 Support & Resistance Zones

Level Price (₹) Commentary

Support 1 363 50-DMA, immediate support

Support 2 352 200-DMA, stronger support

Resistance 1 375 Minor resistance zone

Resistance 2 390 Previous swing high

Resistance 3 406 52-week high, major breakout level

🎯 Entry & Exit Zones

Optimal Entry: ₹360–₹365 range on pullback with volume confirmation.

Exit Zone: ₹385–₹400 for short-term traders; ₹405+ for medium-term breakout players.

⚠️ Short-Term Signals

MACD bearish, RSI neutral, and volume spike suggest caution.

Price action above moving averages is constructive, but lack of momentum and recent negative earnings (-₹8.3 Cr) raise concern.

Watch for breakout above ₹375 with volume surge to confirm trend continuation.

🧭 Summary

Trend: Consolidating with mild bullish undertone

Momentum: Mixed; MACD signals caution, RSI and price action offer support

Technical Rating: 3.5 — Neutral setup with breakout potential above ₹375

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