Daily Chart Outlook
Chart Making Channel Pattern,
Inverse Head & Shoulders Pattern.
4 HR Chart,
Price Respect Upper Strong Tradeline,
Seeing Strong Support level Wait after Breakout
The Chart is telling in upcoming days BIOCON will Good Opportunity To Buy on Reset level
This Post Is Only For Education Purpose
Price action analysis
Biocon trading in a consolidation range from last 2 months
currently price at breakout level from channel pattern
LTP - 377, Entry level above 385
#elplantrader #tradewithelplan #tradewithaplan
wright time to enter pharma stock.
catching a fish before it grows.
beautiful Flag pattern forming.
can make entry with SL=swing low i.e. 338, CMP=367/
#the_pravin #simplepriceaction #notoindicator #nakedchart #swingtrading
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...
I hope you can now see how BIOCON represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the...
syngene and its peer biocon both showing signs of one side upmove
the stock looks great at cmp for a 15 % up-move to the least
it was into a deep consolidation.
from a good amount of time
the best part about this time is it gave a good spike rejection and that too at lower ends of the box
although sl should be respected
biocon broke out the trendline with 3 white soldiers... and going for 3 wave up...
2nd wave completed near golden ratio 61.8% and bounced for 3rd wave..
breaking of high of 3 white soldiers will give more bullish mommentum
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...