Bull Flag above Resistance.
Can go LONG after breaking the Flag pattern.
Ideal ST 363
NOTE: This is just for educational purposes. Trade only after proper self-study of the chart.
In Daily chart we have seen the shooting star candle at the Resist.level to take the short entry. Short entry can be taken below the level of 400 as we can see strong support at this level. Let's wait to BD this level. After 395 once stock move below the 20 EMA level then we can see the 390 level in the stock. So add the stock in your watch list to see the...
I have applied fibonacci time zones for the stock Biocon. With Addition of high Open-Interest and market looking volatile. Cash could flow into low beta and defensive stocks.
And the time zones depict a good breakout in 1 or 2 trading sessions.
Biocon - It always had long consolidated years and the only big move since beginning was from 79rs to 200+ was way back 4 years ago. A significant 200% up in 2-3years.
More often than not, the price consolidation periods were longer than that of the up runs the stock had.
At curent levels, the volume candle of this week is shorter than that of the previous week,...
Enter short once the lower trendline is broken.
Price is consolidating in a range and also in an ascending wedge which usually breaks down.
Sellers are accumulating shorts imo. Wait for the break to enter shorts.
![BIOCON: BIOCON [Positional]](https://s3.tradingview.com/f/f1WTvkfF_mid.png "BIOCON [Positional]")
