Bearish trend analysis, Detail within chart. BIOCON
This idea is an Intraday call.
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Looking from the chart, Biocon have come near resistance zone. I have come to conclusion this stock would start downward journey.
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Biocon price seems to have formed inverted Cup and Handle on a monthly candlestick chart. This is on the slanted price movement. Handle has reached 50% of depth of cup. Any significant upmove may invalidate inverted Cup and Handle. Need some more insights on Inverted Cup and Handle