Stock Radar: Biocon offers fresh buying opportunity; stock hits 52-week high in January

Biocon stock hit a 52-week high of Rs 400 on January 20, 2025, after reversing losses above the 200-DMA in December. The breakout from a 4-month consolidation range, with Rs 395 as resistance and Rs 300 as support, signals strong momentum. It also surpassed the 61.8% Fibonacci retracement level and a Volatility Contraction Pattern, indicating a bullish trend.