NSE:BIOCON made an M pattern. But looking at the volume and the momentum, it seems the more selling will happen.
But if it bounces, then buy is also possible.
So both sides trade:
Trade: Buy above 280, SL: 276, T: 284/286
Sell below 272, SL: 276, T: 269/266
Biocon is trading at 52 week low and looking very weak. All technical indicators indicating bearishness. One can make short positions for the target of 270 and mark stop loss around 315 on clsb.
View for educational purpose
Price first broke down its important level but is now trying to move up again if it will give closing above 306 then we can expect a good up move but if it will break down trend line Then there could be a downfall again (not big)
Hello guys today after seeing the chart i got these things
1. If goes down then target could be taken at 309 as a target
2. Can be down as the Rsi Is also high and in the overbought zone
3. A Trend line is also showing to make a rising wedge and shows up also a sell signal
4. Time Frame :- 15 mins
A resistance which is at the current...
BIOCON - Support level explanations
1. It takes 10 months of distribution to break downwards.
2. If the stock does not close above 325 this month, then there will be more falls.
3. Next support will be at 275, 250, and 220 respectively (250 is the corona crash low).
4. If the stock close above 325 in the monthly candle then it will take the support at the...