This is a weekly chart, and it seems Biocon has completed its correction on a bigger time frame.
It seems a good buy above 385, with SL of 332 as of now, and target of all time high of 487.
So the risk reward is around 1 : 2.
Weekly TF MACD is showing bullishness and on the verge of giving a good buy.
Monthly TF MACD is above zero line and might give a...
1) On 1day time frame, we can see it is near critical breakout zone. 350-352 zone.
Above this it will give breakout of it.
Please refer below chart : 1day time frame.
Trade Setup for 07-04-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min...
As we can see Biocon stock has made spinning top kind of candle on support of recent swing.
one can buy above current candle high in that case stop loss can be same candle low on closing basis.
if break low of same candle then it might fall till below mentioned support level.
in both case traders also can plan their trade on according direction as per...
Biocon Ltd - 04.02.2022
The stock is trading @391.65 levels
The prices are above EMA
There is a SUPPORT @377 levels
There is a DOJI in Monthly Chart
Let the prices go above 398
RSI is 57 in Weekly Chart
Watch out for the price action
I hope you can now see how BIOCON represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the...
The Pharma Index (Nifty Pharma) has been performing well since the past 3 months. Biocon is one of the stocks of Nifty Pharma. As per the analysis, Biocon has tested the same level (417-420) multiple times and any level when tested multiple times, becomes weak and price may breakout the level soon. Any up move from the supply zone will give a good opportunity to...
Biocon breakout for all trades
Breakout alert ahead.
Self explanatory chart.
For educational purpose only. I am not a sebi registered expert. Trade at your own risk. Feel free to text & Share your views.