BIOCON
Biocon Rounding Top - Weekly Chart- Not for Intraday.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 level 1.
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Biocon : Increase in activityBuy 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 expected as it has already taken medium term trend line support.