Symmetrical Triangle
Symmetrical Triangle observed in biocon 1H TF.
Stock is in an extended uptrend and will keep moving up for foreseeable future.
Long Entry at 332.50
T1 440
T2 446
SL 424.50
Given that the Pharma is in uptrend and Biocon is leading the pack, Downside is very limited.
Also Trend is a Friend.
Stock is in an extended uptrend and will keep moving up for foreseeable future.
Long Entry at 332.50
T1 440
T2 446
SL 424.50
Given that the Pharma is in uptrend and Biocon is leading the pack, Downside is very limited.
Also Trend is a Friend.
Note
Typo: Entry at 432.5Trade closed: target reached
T1 reached. Closed trade @440 because of results round the corner.Note
Results caused the stock to breach SL and trend line. And hence I closed the trade as soon as T1 was reached. Since Result Expectations with the stock was high and it was a probability that stock may miss the street estimates.
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