Note: This is for educational purpose only.
There seems to be an ascending triangle bullish breakout with good volume (not too high). There seems to be a similar breakout in the RSI as well. RSI is 54 which is in neutral zone. As per the chart it seems that the bulls are back in control post a substantial push from bears.
will go LONG on BIOCON because:
1) The price is forming a Chanel or Rectangle Pattern .
2) The price also broke the trend line .
3) The price is also under Support/Resistance zone.
4) It has touched the support (lower end of rectangle ) and may reach the resistance zone (upper end of rectangle ) .
5) Target would be the Resistance area . Book profit when it...
Enter Long in BIOCON if crosses above 630 (Aggressive Trader)
Enter Long in BIOCON if moves above 636
Target 1 - 648
Target 2 - 660
Target 3 - 680+
Last Swing (Higher low) 610 acts as a Stop- loss
*RECOMMENDED FOR POSITIONAL TRADE