Is Biocon Ready For Downside?

23 Ara 2016

This is follow up article to my previous 2 articles on biocon.
1)Today it has broken it's trend line support.
2)On weekly chart there is Bearish Engulfing pattern.
3)The stock is already up 100% in 8 months on weekly chart it looks like parabolic move.
4)I have been reading on moneycontrol most analyst are recommending Buy on Biocon.
Let me know your thoughts if any,

23 Ara 2016

Not

One more thing in addition Kiran Muzumdar shaw recently featured on Forbes India Magazine on how she made a biocon a major global force. Most of the time such articles mark Top for the stock. As Paul Krugman has joked, "Whom the Gods would destroy, they first put on the cover of Business Week". Read about it here :
en.wikipedia.org/wiki/Magazine_cover_indicator