Biocon formed Rounding Top..
since this is weekly chart analysis the time duration for the target is 2 weeks to 4 Weeks.
Entry should be taken only if the breaks fib level of .618 level..
Note: There is chance for reverse @ .786 level. because the characteristic of Fibonacci is .786 level in day chart.. take this as first target.
Then final target is Fib...
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BIOCON opened below support this week and closed strongly above levels with good buying ,trapped shorts will exit if trades above 256.
Can Buy above 256 for long term targets of 278 and stop loss of 243 .
Buy above 561 (15 minutes candle close) with stop loss below 550 for target 590
Volumes have been spiked in last couple of 15 minutes candle indicating activity from traders for directional view. It has again reversed from 558 level which a retracement resistance. If it crosses 559 with volume and close above it on 15 minutes candle then major move can be...
Buy Biocon at 545--543 SL 537 target 558-560 or Buy above 561 with stop loss below 548 for target 585
Biocon has bounced from the trendline drawn on daily chart. Volume in last 2 days are good. MACD has turned positive but still bill signal line. Hourly chart is showing positive divergence on MACD and also crossed signal line. 560 is the resistance above which it...
One can buy BIOCON for a target of 50% fib level .
I think tomorrow we will have a great upside on this stock as we can see a great buying activity on Friday but FIIs I assume tommorow we may ride up and this stock can give us some good bucks .
Perfect breakout after a long downside with volume.
Follow I like my analysis !!
One tip for tomorrow you can also buy...
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