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BIOCON

BIOCON - Formation of Ascending TriangleIt is been observed that the price action is consolidating and forming a Ascending Triangle pattern on hourly chart. It indicates a strong resistance level at 968 levels and prices action is retracing from this level. Therefore, it will be interesting to see how the price action works out tomorrow and if it breaks above it then it shall provide a higher big move. In case it retraces back which I see might happen tomorrow then I shall further go down to 950 levels. Short Side, I believe it can go down to 948 levels by tomorrow.
NSE:BIOCON
by NeeteshJain
3
Biocon : Rising Flag & Symmetrical triangle Pattern within a pattern - yes it is ! So Biocon will be very good trade opportunity on Monday for both intraday and positional traders. Probably, positional traders have to wait for sometime as there is bit of distance between trendline and current price of Biocon. Its breakout patterns everywhere around the market, so choose and trade wisely.Lets expect next week to be as good as this week we had with Nifty,Ambuja cements& few others. Hit Like button to keep me motivated to post more ideas...Thanks for your support ! Happy Trading !!
NSE:BIOCON
by InsiderB
4