Biocon (Daily) Inverted Head & Shoulders Chart Pattern
Currently the price seems to be in the last leg of the 2nd wave May enter the 3rd wave shortly and do the breakout of the neckline of the Inverted Head & Shoulders chart pattern being formed We'd actually be bottom fishing the 3rd wave in this case or the right shoulder of the Inverted Head & Shoulders chart pattern
Once 2nd wave is completed and the bullish reversal comes, you can calculate the target for the 3rd wave using the Trend-based Fib tool (1.6 x when you click from starting point to top of 1st wave and then on the bottom most point of 2nd wave)
Or you can simply take the depth of the head as the target
On weekly tide, there is a buy confirmation in place
@StockWhizzer, I do not think so because according to the Elliott wave count, this seems to have done the retracement (2nd of 3rd) and we may be in for the 3rd of 3rd (we could be bottom fishing it and the right shoulder of the Inverted H&S)
Dhiraj_Ahuja
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@Dhiraj_Ahuja, Am ready to accept whatever the God market decides for me
Kee up the good work.