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Tech_stock_trader
Jul 8, 2020 11:52 AM

Biocon Stock to take the short entry. Short

BIOCON LTDNSE

Description

In Daily chart we have seen the shooting star candle at the Resist.level to take the short entry. Short entry can be taken below the level of 400 as we can see strong support at this level. Let's wait to BD this level. After 395 once stock move below the 20 EMA level then we can see the 390 level in the stock. So add the stock in your watch list to see the further price action movement in the share.

Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask .

Comment

As per given level stock reached at 395. However Gap Down opening as per Exact level of 395. As mentioned above stock well supported by the 20 EMA Level. Lets see.

Trade active

Trade closed: stop reached

Comments
pratipal123
its main trend is up, current price action is sideways so by shorting such stock its luck to be profit. i think we should check tranding stock only
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