BIOCON
Biocon : Respected Support lineBuy 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 is likely to touch 585.
BIOCON clear volume break out with an engulfing candleOne 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 balkrishna industry at 810 .
That my thoughts do your own research please
Thanks
Biocon Is at Crucial JuntureAs per elliott wave perspective Biocon currently trading in its wave C with internal five wave structure. Fifth wave of "c" is also forming internal five wave and about to form falling wage pattern. Any sign of pullback will give strong short term trading opportunity in this stock and I expect stock may jump towards 560 - 575 which is 38.2% and 50% fibonacci retracment level.
Go long in Biocon for the Target of 587, SL 553.Biocon has strong support around 553 which is unlikely to break hence one can go long for the target of 587, keep 553 stop loss.
Biocon - LONG ON WEEKLY CHARTS- The trading decision need not be full of complex indicators, it can be as simple as this one.
- Biocon is taking support at the lower end of the weekly channel
- Note the volume picks up as soon as it reaches the lower end, a similar rise in volume can be acknowledged
- MACD showing an upcoming bullish trend
- Look for targets of 740-750
Biocon is looking for buyers, If it didn't get, Short after Red!Eventhough @Biocon shows good move, It can be pulldown if it didn't get buyers(demand). I mean there are 80% chances for fail breakout. To confirm it, short if the price closes below red line and if it shows less volume(less interest).
Biocon buy @610 with stop below 600 & target of 630-640Biocon seems to be in a rangebound zone where the lower band of the range is near 605-610 and the upper band near 660-70 levels.
Being near the lower band of the range, in trendline support zone, biocon is good risk reward trade for bulls.
Buy Biocon between 605-612 with a stop below 599 on daily closing basis ... for target of 630-40-50.
Biocon 1 Hour chart : looks on SupportGood buying opportunity on Biocon, risk is less.
SL can be maintained on 2ATR.
3/2 Risk Reward can be used with Lucas Base.
longbullish divergence
hammer in bottom..taking support at 590 level..taking 590 as stoploss can go long.
Confused about where to invest at this stage of the cycle?Monthly chart CNXPHARMA
Price action: Blue arrows show higher top and bottom
Line studies: Price moving out of red downtrending channel
Averages: Support at 200 period EMA in June 2018 and Feb 2019
RSI: Bullish divergence + trending up NSE:CNXPHARMA
Comment: One can consider investing in pharma funds/Etfs with a systematic investment strategy for 5 years (Holding period 10 yrs)
By Animesh Vashisht, CFTe
(Disclosure: I hold personal investments in the sector.This is just an opinion not advice.Consult your financial advisor beforemaking investment decisions)
Biocon: Short & Medium term trading plan and idea Biocon
Closing Price 628
- The stock is at important levels and we try to analyse different possible scenarios and how one can plan their trade.
- we are looking at 4 possible situations and accordingly one can plan their Trading strategy:-
Situation 1
- In case of dips look to buy in the zone of 618-607 levels for target of 662 / 682 initially.
- pattern gets invalidated if closing is below 600 on weekly closing basis
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- In the extreme short term 637-642 may be the deciding level. Trading below the said levels will keep the possibility of dips alive.
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On rise those who can take some risk look for selling opportunity in the 635-640 zone with strict SL at 642 and target of 618 / 612 & then
reverse the trade at lower levels to go long
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Situation 2
- In case the stock goes higher above the said levels of 637-642 buy with a small ticket size for target of 662 / 682
Situation 3
- the stock continues to rise higher. 696-710 will be an an important defining zone to watch out for. Sustaining above that on weekly closing basis will open up doors for further up movement towards 810 odd levels in medium term. Once it goes above 710 The stock should not come below 677 thereafter.
Scenario 4
The stock falls Below 605. This may turn the counter bearish and may open doors for slide towards 561 / 528 levels. However this could be a tricky situation. There could be chances of false breakdown. So need to be careful on this one. In case of breakdown look for other confirmation points like volume, derivatives insights.
- Safe strategy could be to look to trade the counter after analyzing the behavior on pullbacks. A weaker pullback and inability to cross 620 levels could be ideal situation to go short with minimum SL
- In case the pullback is stronger and conquers 620 odd levels with higher volumes , you know what that would mean...
All the best & safe trading...!!!
Biocon At channel support.Biocon on important support. Doji on Daily and Hammer on Weekly Channel support. Friday's price action is important.
Biocon facing multiple resistance Biocon might have completed wave y. Biocon is facing multiple Fibonacci resistance (Fibonacci cluster). Short below 641 for target 634/24 with sl 648.
Ignore Fibonacci levels on the chart. I have published it in quite unprofessional manner, apology for the same. Thank you:)
