BIOCON
Biocon, EW with Relation of maths for long.I've already entered in long at 368 with an alert on 29 Jan 2021. I hope that you will get entry-level as mentioned on the chart at wave 2 retracement of wave 1 but I don't suggest holding position if the price falls 375 below.
This setup has higher risk and rewards 1:6 or 1:8 because of wave (3).
Check out the long-term chart.
STOCKS TO SELL FOR 09/2/2021already breakdown has happened in biocon.Still expect further down today .
Biocon Reversal V Shape Biocon
Bouncing From Support Area 360-370 Pure Delivery Above Cross and Sustain 395 Then Sl 370 Trg 420/440
BIOCON Short....(Trendline BO)Below 435
SL 475
Target 405-395
Currently volume is not that great
Option play
420 PE Above 9 SL 3
Target 15-20
Or
400 PE above 4 SL 1
target 7-10
Part 1 Biocon(Weekly), finding stop for 4rth Wave (TF-W/D/30min)The price is finding the number of 4rth waves to stop and will travel for the 5th wave which exists at 388 nearby(38.2% retracement) or 360-378.
Let's assume that the 5th wave still remains then, the target should in the step by the previous important level as 468/488/506.
BIOCON - Weakning !!!On the Edge of Breaking an Important support
Showing Signs of weakness on all higher time frames
If Market Bias goes negative then it can become a strong potential sell candidate
Intraday Biocon
If it sustained above 471.75 on 12-01-21 , take for target 478.60 ,487.90
Thank You ! Please Let me know how is it ...
Buy Biocon near 477The stock has already given the breakout on daily candle and expecting to move further, one can buy near 477 for the targets of 499, 510 and 525.
Happy Trading!
InvestPro India Team
Biocon, Long above 447 for a target of 580+It seems Biocon has completed its consolidation. Nifty Pharma has also started moving up. It has formed good base in 400-380 zone.
Buy Logic listed on chart
Entry: 447
Stoploss: 415 (on closing basis)
Target: 580 (risk reward => 1: 4 )
Timeframe: 4-6 months
Note: It can spend some more time in 440-480 zone....Conservative investors can wait for a breakout above all time high.
