Chart Of The Day – Biocon Finds Strong Support at 50-DMA

Biocon jumped almost 7% in today’s session, driven by strong buying interest. The stock found strong support just above its 50-day line and rebounded sharply in today’s session. It closed 5.7% below its 52-week high of 657.5 and has strong technical ratings, with Accumulation/Distribution rating at A+ and Relative Strength rating at 88.

Biocon_MarketSmithIndia

Daily Big Picture – Indian Market Limits Losses; Distribution Count Reduces

Today’s Action:

Key indices close off day’s lows; mid- and small-caps underperform

Daily Market Review:

India’s key indices did well to keep losses in check in today’s expiry session.

After a weak opening, a late recovery at the bourses helped the Sensex and Nifty to limit losses at 0.07% and 0.14%, respectively. Continue reading “Daily Big Picture – Indian Market Limits Losses; Distribution Count Reduces”