NeeteshJain

Biocon Short Setup (Double Top)

Short
NSE:BIOCON   BIOCON LTD
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5
It is been observed that price action failing to breach 970 levels due to selling pressure that limiting the price action to 970 levels where we could see a double top . Now it is a good time to short it with stoploss at 970 levels.

It is also observed that the price action is forming a diagonal on daily chart , where breakout is expected.

Target: 935
Target 2: 920
Stoploss: 970

Trade active: Targets nearing, be ready. Regards
Trade active: Trade changes to double top to triple top to Ascending Triangle, interesting to look how market changes shapes with time.
Trade closed: target reached: Biocon Targets reached successfully, did perform well. Regards

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