SYMMETRICAL TRIANGLE PATTERN
1)This is Long Term probability, based only on a Chart Pattern that I have found out.
2)We are refering to a Monthly Chart here.
3)This Is extremely good stock to accumulate for the long term.
4)Should accumulate if comes down to a level of 240-260, that is Point No. 5.
5)Expect a major Breakout then.
OR
6)It may Break the...
Good breakout on the weekly side ,go long on dips til 295-290 with the sl of 275 on clbs and tgts of 320/340 positionally .
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After a decisive close above resistance of 281+ Biocon is all set for a bullish rally
Buy at CMP 294+ and on dips upto 281
T1: 340
T2: 360
T3: 420
T4: 450
SL: 270
Biocon price seems to have formed inverted Cup and Handle on a monthly candlestick chart. This is on the slanted price movement. Handle has reached 50% of depth of cup. Any significant upmove may invalidate inverted Cup and Handle. Need some more insights on Inverted Cup and Handle
CURRENTLY AT 50 % LEVEL WHICH IS VERY IMPORTANT IF IT BREAKS IT ON CLOSING BASIS IN 30 MINUTE CANDLE GO SHORT TARGET GIVEN WITH ARROW
NOTE:TRADE AT YOUR OWN RISK
Key resistance zone
Bat pattern completion on higher time frame
Would see some major pullback soon
Stop loss should not obvious
Follow if analysis is working or comment If not
Suggestions are welcome !!!
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