BIOCON has been making Lower Highs and Lower Lows for the last about 3years, on the weekly chart, as it dropped 60% between Dec 2020 high and March 2023 low. After that it made its first Higher Low during October 2023, and this week it broke its prior swing high thus making a Higher High. The latest move since March 2023 is also marked by volume support as the bullish volume bars are much bigger than the bear volume bars indicating possible institutional accumulation. The balance of probability now looks to be to the upside.
Only personal analysis. No recommendation. For any market action please consult your financial advisor.
Only personal analysis. No recommendation. For any market action please consult your financial advisor.
Raju KMS Datla