Biocon from 5 July 2020
Biocon is again showing sign of coming out of consolidation zone though volume is not increasing much
MFI is increasing n possible breakout possible
monthly analysis
1. at max 15 % increase possible ---> 400 * 1.15 == 460 ( at max ) (highly unlikely )
2. at max 15 % decrease possible --> 400 * 0.985 == 340 ( at max ) ( highly unlikely )
safe upside setup is to buy at 401 with SL : below swing low with target of 2R
option strategy ..
Heart of steel --> Million miles journey
1 .Sell 340 PE + Buy 300 PE ( less margin req )
MFI is increasing n possible breakout possible
monthly analysis
1. at max 15 % increase possible ---> 400 * 1.15 == 460 ( at max ) (highly unlikely )
2. at max 15 % decrease possible --> 400 * 0.985 == 340 ( at max ) ( highly unlikely )
safe upside setup is to buy at 401 with SL : below swing low with target of 2R
option strategy ..
Heart of steel --> Million miles journey
1 .Sell 340 PE + Buy 300 PE ( less margin req )
Note
target done :)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.