BIOCON trade ideas
[ INTRADAY ] BIOCON SHORT BETrisk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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Biocon is at major supportBiocon is at major support
Consolidation is happening between 420 -- 370
Short term trend is down
Closing below support can trigger a sharp sell off
BIOCONBIOCON Has Traded on long flat time correction ,in pattern Analysis short-term sideways channel and taken support 385 , next move expect upside towards 412 in next 10 days
Biocon - buybuy from cmp to 383
easy taregt - 399
tg2 - 405.5
Disclaimer : This is my personal analysis for study purpose not intended for trading
BIOCON on trendline supportBiocon is on trendline support on Daily time frame and can expect bounce from here for 5-10% returns in short term, SL 384 DCB.
Note : Not a buy recommendation.
BIOCONStock is hovering around previous breakout zone, currently taking support on weekly time frame buy will be above 420 SL 400
BIOCONThis is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk
Biocon - Range boundCMP - 409
Short position -
T1: 405
T2: 396
T3: Trendline market with T3
SL: 415.70
PS: Chart is self explanatory
biocon box breakout can come , only when it comes out of box lets see ,
if it does then trendline will be the target
