BIOCON 2017- Can Struggle till 720-725 Zone

Last Price@946

Intermediate Wave- (1)-(2)-(3)-(4)-(5)

Minor Wave- 1-2-3-4-5

From 90 lows in 2009- Biocon has travelled into the nested wave structure (1)-(2)-1-2. Currently moving into 3rd of (3) wave. Minor wave-3 was done at 1020 highs in Oct2016- since then it had a severe fall to 804 lows which retraced 38.2% & the rise from 804 lows looks choppy & corrective. I shall be looking for 50% retracement of minor wave 2-3, which comes in the zone 720-725 as minor wave-2 retraced 38.2% at 431- so a deeper retracement could be expected in minor wave-4.

These are long term targets could take atleast 6-8 months to unfold.

Trade active:

09:05 Hrs 6th Jan2017

Last Price@946

Moving above 950 & sustains then shall look for 957-960 prior swing high- shall book profits & wait outside to come back again later

Trade active:

10:07 Hrs 6th Jan2016

Last Price@961

crosses the zone 957-960-- Hold guys -can push to 968-970's

Trade active:

10:33 Hrs 6th Jan2016

Last Price@968

Awesome & How does it feel with the explosive move from 950 to 968- Take Rest & Enjoy Weekends.

Trade active:

12:47 Hrs 6th Jan2017

Sorry for all typing mistakes in dates as I am still struggling to write 2017 -in above updates used "Jan2016" instead of "Jan2017"

Hitting the block hole 970- drops to 959 current rate- yes we booked exactly at 970- Awesome

Trade active:

18:05 Hrs 8th Jan2016

Last Price@960

Short trading call in larger picture

Going above recent high@970- we can look for 5-8 points i.e. 975-978 Shall exit & wait at the sidelines.

Trade active:

10:06 Hrs 9th Jan2016

Last Price@976

Day High@979

Bang On Target Clicked above 970 for 975--978

Trade active:

11:41 Hrs 9th Jan2016

Last Price@1003

Day High@1019

Entered in a short trade at 1009 but updated that we should never miss such double tops as risk reward is amazing -with stops of 1-4 points above 1025

Trade active:

08:52 Hrs 10th Jan2017

Last price@1013

If sustains above 1020-1025 then be careful do not sell else look to sell & going below 985-990- it will have some downside pressure.

Trade active:

09:38 Hrs 10th Jan2016

Last Price@1009

Day's 1026 - has strong resistance going below 985-990 shall have more pressure -risk takers can sell in the zone 1020-1025 because if sustains then only it will move up else down.

Trade active:

09:40 Hrs 10th Jan2017

Day's High@1026

Trade active:

13:10 Hrs 10th Jan2017

Last price@996

Day's High@1026

We are in the trade between 1020-1025

Going below 985-990 -the pressure will be more visible.

Trade active:

13:38 Hrs 10th Jan2017

Last price@997

If you want to hold you can but trail your stops above 1012-1013 or book profits at current zone 995-997 & wait next at sidelines for selling again below 989.

Trade active:

07:10 Hrs 11th Jan 2017

Good Morning!

Last Price@997

Once the price goes below 989-990 -we will take sell with strict stops above 1014

Comment:

07:10 Hrs 11th Jan2017

Long term Traders who took risk bet 1020-1025 should continue

Trade active:

11:54 Hrs 11th Jan2017

Last price@997

Key zone was 1012-1014

It went on high at 1007

or

Sell Below 989-990

Some guys are risk takers then also you should take risk which you can digest something like this - selling close to 1012-1014 & if it falls below 989- it becomes awesome as more sellers join them. Now those risk takers should trial the stop to cost

Trade active:

14:05 Hrs 19th Jan2017

Analysis done using spot/cash data

Last Price@995

There is price rejection happening in the zone 1010-1015- so once if you get a chance to sell in close by range of 1000-1010 keeping stops above 1012+ we shall look for the target 950-960 zone.

Trade active:

20:16 Hrs 20th Jan2017

Last Price@974

Day's low@971

Leakage started

Comment:

11:00 Hrs 30th Jan2017

Last price@1008

Missed recent double top@1050-1052- bad luck.