Biocon - Inverse Head and shoulder - Trend change in progressBiocon - Inverse Head and shoulder - Trend change in progress
BIOCON trade ideas
BIOCON - Bottoming out into Inverted H&SBiocon has been in a strong downtrend since the start of 2021, moving downwards in a distinct falling wedge pattern.
The falling wedge has now formed Left and Right shoulders on the 0.5 Fib with a Head further down off the 0.618 Fib.
While Biocon strongly broke out of the falling wedge, it has now re-tested the breakout and remains within the forming Inverted H&S pattern.
A risky bet would be to go Long now, and a safer bet would be to go Long after breakout of the neckline (above 380).
BIOCON LONGI 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 methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these charts are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
Biocon bullish above 360 rs Biocon for long daily chart retest taking support of long daily chart frame resistance line .
1. Good to buy above 360₹
Target long 440..
2.forming rising wedge pattern obove resistance line.
Horizontal line with crucial resistance break.. This is good for long. Upto 10% or 10%+ target
With stop loss of 4%... R/R is 1:2
Use your knowledge for entry &exist...
Education purpose only...!!!
biocon biocon just broken bearish trendline on daily timeframe
also taken support on bullish trendline
400 will be major resistance
Biocon Monthly bullish - pivot tgtBiocon Monthly bullish
Positive Divergence - Above 50
Long Term TGt - Pivot tgt
BIOCON As you can see from the charts of BIOCON , The structure looks promising and very bullish. Yesterday it gave a good volume breakout and today it retraced as well near its support. Hopefully, above 386, it can give a very good upside momentum . ( Plz comment your views)
Biocon - Falling wedge pattern breakout Biocon looks promising for long
Reasons:
1. Falling wedge pattern breakout
2. Rectangle pattern breakout on daily time frame
3. Sector bullish (Pharma)
4. RSI bullish
5. Breakout has volumes
Disclaimer for learning purposes
Falling Wedge Breakout. Long!!Breakout of falling wedge in weekly time frame. monitor and enter.
SL:342
Entry:360-370 at dips
Tar1:424
Tar2:460
RR:1:2 almost
Trade at your own risk
#REVERSALBiocon Weekly Chart
A reversal from 61.8% fib level and a break abv the resistance trendline gives a good opportunity to go long with a Stop-loss at 345 daily close
Targets can be ATH (485) and 590..
Disclaimer: Educational view
BIOCON - Buy at CMPBiocon is holding an important super level. But at cmp for a good risk to Reward ratio.
Head and shoulder pattern Head n shoulder pattern can be form on weekly basis and also form lower lown higher High near trendline of weekly basis once break trendline can be move upto 480 levels
BIOCON LOOKING STRONG FOR POSITIONAL AND SWING TRADE. their are many confirmation like head & shoulder + resistance = support in monthly chart+ resistance is tested many times become weak in hourly chart + trend line will also . JUST IT HAS TO BREAK THE RANGE.
Biocon can be longBiocon has been in corrected since Dec'20 and now its time to start accumulating it. As it looks like correction has completed.
Target 1 = 426
Target 2 = 488
RSI is ~50 and we can see positive momentum coming in soon.
RSI = 70 could also be taken as target bcoz since long time, we have not seen RSI >70 and stock reverse back after this point.
20 and 50 EMA's are supporting price on both Daily and Weekly timeframe.
Disclaimer: I am not sebi registered. This chart is for educational purpose. Pls consult your technical advisor before investing.
Biocon-Breakout of falling trendlineBiocon has given a falling trendline breakout with decent volumes and is close to 200 EMA. Offers good R:R.
RS 55 is also +ve so a long trade with 7-8% stop can be taken.
