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The Good

 

BIOCON(CMP 379) Daily Chart

BIOCON (CMP 379)

A subsidiary of Biocon has received USFDA approval for Sacubitril/Valsartan tablets and Daptomycin for injection. The company has also received an Establishment Inspection Report (EIR) from the USFDA for its greenfield API facility in Visakhapatnam, allowing it to begin commercial supplies to the US market.

Technically, the stock is signaling a massive breakout on the upside consolidation breakout on the daily charts. Momentum oscillators bullish.

Preferred trade: Buy (CMP 379. Stop at 359. Targets 395/413. Aggressive targets at 421. (Interweek Strategy). 

 

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