FinancelY

BIOCON ( Ready for Marathon)

NSE:BIOCON   BIOCON LTD
BIOCON:
Few key points to note:
- Seems like Wave 4 is completed and Wave 5th have been initiated.
-Respected the Golden Ratio of the prior trend.
- RSI Bullish Divergence ( Double Bottom )
- Support taken at 200 Weekly Moving Average & EMA
- Bullish Candlestick pattern formed at Official Level (Golden Ratio) & Moving Averages.


I expect upside reversal in BIOCON from this point. However the trade gets activated once it closes above 350 and the expected target is 421-544-596.Please note, this is a weekly Time Frame chart, it would definitely take time to see the targets being achieved. So have patience if you venture with this stock with an appropriate SL.

CHART & ANALYSIS – ADARSH DEY
Comment: A fantastic breakout. One can add more on dips.

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