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Biocon, VIP Ind: Trading calls by Vaishali Parekh of Prabhudas Lilladher

RSI Indicator has given 'buy' signals on Biocon and VIP Industries' stocks

The stock of Biocon has been in consolidation for quite some time, maintaining the support base of 380 levels
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The stock of Biocon has been in consolidation for quite some time, maintaining the support base of 380 levels

Vaishali Parekh Mumbai
BUY VIP INDS | CMP: Rs 376.25 | TARGET: Rs 420-430 STOP LOSS: Rs 358

The stock has corrected well from the its peak levels of 421 and, once again, has attained the base of the trend-line support near 368 levels. We anticipate a reversal and expect an upward move in the coming days. The RSI also has shown signs of bottoming out and reversing the trend to signal a buy. With the chart looking attractive, we suggest to buy and accumulate the stock for an upside target of 420-430, keeping the stop loss near 358 levels.

BUY BIOCON |

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