Biocon - Wave-I-Wave-II retracement complete?
Biocon time to go long?
1. Daily shows 50% retracement of the rise since 23rd March
2. 30 min 3 Line break and 30 min Renko developing up bricks
3. Fairly tight SL below low of 7th May candle - 612
...Perhaps after Karnataka election results and the Iran developments (both these are potential time bombs though markets seem to be ignoring it)
1. Daily shows 50% retracement of the rise since 23rd March
2. 30 min 3 Line break and 30 min Renko developing up bricks
3. Fairly tight SL below low of 7th May candle - 612
...Perhaps after Karnataka election results and the Iran developments (both these are potential time bombs though markets seem to be ignoring it)
Trade active
Signals were good today so went long @622 (futures price). HoldingTrade closed manually
Closed @631 (futures price). 9 points per lotTrade active
Again long @630 with SL @629 yes just 1 point!!Trade closed manually
Closed @639 (futures price) another 9 points per lot. So 18 points since yesterday. Great risk/reward ratio - SL was always 1-3 points only since I try and time entry and exit precisely.Note
Long @633 (futures price) SL 632.9Trade active
Target 648 (futures price)Trade closed manually
Closed @ 641... totally about 26 points profit per lot since trading this apparent recovery...Note
Went long this morning @634 and closed @648... almost 40 points per lot since May 10th. Lot size for Biocon is 900 in futures.
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