Health Sector is one sector which rarely see any big falls during recessions because it is impossible to avoid health emergencies; therefore, numbers of health sector companies included BIocon showed good results during lean months. Biocon stock has given 2.5 times returns to people in just six months; however, performances of stock are not best as compared to numbers of other sector stocks. Biocon stock has seen lowest of Rs 100 and maximum of Rs 250 in last six month. Rs 260 is upper resistance level for this stock and it is very important for Biocon stock to break this level before giving any big return. Biocon is one of the safest stock but options of results are also low in this stock as compared to other stocks. Biocon Stock is likely to reach Rs 330 level in 1 to 1.5 yr time; however, it is better to buy this stock if it breaks its upper resistance of Rs 260.
Present Price- 257
Action- wait for breaking upper resistance level
Future Potential- 30% increase after crossing upper resistance
Risk Level- Low
Future potential – 300- 350 (1 to 1.5 yr time frame)
Stop Loss – 220
Monday, September 28, 2009
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