BIOCON LTD - BIOCON(NSE) | FLAG CONTINUATION

15. Jan. 2022

BIOCON LTD - BIOCON(NSE) has been forming a Flag Continuation Pattern since the start of 2021, when viewed in a day's period. A price level of 372(red, dashed line) had acted as a good support and the price had bounced back from there till 479(green, dashed line) in the past. Hence, a long candle cutting the rectangle upwards can trigger a rally till 479, which can happen in less than a month, after the breakout. Watch thoroughly, as the price is nearing the top boundary of the rectangle.