BIOCON, strong bounce back. Looks great for higher targets!
1. Stock has made a Bearish Flag pattern on Daily Time Frame.
2. Stock was continuously taking support on rising trendline however, yesterday's selling made the stock break down the line.
3. Today, stock has regained the Tl support with good volume with RSI support, classifying the break down as failed break down.
4. 362 would the area of Resistance (TL Resistance + 100MA) thus our 1st Target.
5. Enter above 353 for Target 362/373 with SL below 344 DCB should be an ideal Trade.
6. Consult your financial adviser for investing. If worth it, Do Like, Share and Comment. :-)
2. Stock was continuously taking support on rising trendline however, yesterday's selling made the stock break down the line.
3. Today, stock has regained the Tl support with good volume with RSI support, classifying the break down as failed break down.
4. 362 would the area of Resistance (TL Resistance + 100MA) thus our 1st Target.
5. Enter above 353 for Target 362/373 with SL below 344 DCB should be an ideal Trade.
6. Consult your financial adviser for investing. If worth it, Do Like, Share and Comment. :-)
Trade closed: target reached:
High of 375 today.