biocon broke out the trendline with 3 white soldiers... and going for 3 wave up...
2nd wave completed near golden ratio 61.8% and bounced for 3rd wave..
breaking of high of 3 white soldiers will give more bullish mommentum
Few key points to note:
- Seems like Wave 4 is completed and Wave 5th have been initiated.
-Respected the Golden Ratio of the prior trend.
- RSI Bullish Divergence (Double Bottom)
- Support taken at 200 Weekly Moving Average & EMA
- Bullish Candlestick pattern formed at Official Level (Golden Ratio) & Moving Averages.
I expect upside reversal in...
BIOCON @ Daily chart,
After a breakdown of a range, has formed a H&S near the resistance.
Enter Trade after a breakdown of NECK Line of Head and Shoulder pattern.
Will update after the update of price.
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Breakout from a Symmetric Triangle and also
A sort of Ascending Triangle is being formed.
Ride the change in sentiment with the bullish momentum kicking in.
MACD looks positive for a good up move.