AbhishekHSinghCMT
Short

BIOCON 2017- Can Struggle till 720-725 Zone

NSE:BIOCON   BIOCON
817 5 20
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.

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Thanks Abhishek
Reply
1005 hit good
Reply
I have strong believe that this will shoot by 3% on CMP then it will fell down
Shiva Kumar
Reply
Sir..the market broke the Brexit/trump results low..but Biocon is firm and was 10% points above its recent lows. Also some dedicated buying is taking place every other day for quite a while ..which is sucking away the liquidity from the stock. The levels you are mentioning can certainly come if there is any adverse news w.r.t US FDA inspection.
Reply
@RakeshShah, Let us wait for sometime & shall keep a watch on Indices when they start doing something weird.
+1 Reply
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out