Biocon - Trend Line Breakout - Resistance BreakoutPositional Trade: Biocon has broken out from a falling trendline and at the same time attempting to close above a resistance at 392.
Buy: Biocon
CMP: 391
Target 1: 420
Target 2: 424
Stop Loss: 382
BIOCON trade ideas
Biocon - Are bulls ready ???NSE:BIOCON had been facing resistance near 425 and taking support near 370 in the past. At this point of moment, we may see a triangular pattern ( T1 & T2 ) crafted inside the range which is ready to give a bullish breakout and bring in the bulls.
One may initiate a long position with a stop loss below 382.5.
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Biocon India on Daily Charts. Keep an eye for Long.Please share with your family and friend if you like the idea to go long. This chart is only for education purpose. Consult with your financial advisor before making any investment.
Biocon breakout for all trades !!!!!!!!!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.
Biocon Monthly Demand Zone Trade SetupBiocon monthly demand zone trade is marked on chart. We can take trade near Proximal line and below distal line we can set stop loss.
Best way to find out lower time frame demand zone in between higher time frame. In this case stop loss will be small.
I have marked both trade setups. Hight time frame frame (monthly) and lower time frame (daily)
[Turtle] Biocon Wheel StrategyI am selling 380PE naked. If goes down, I will follow wheel strategy.
Short PE is actually bullish view.
I will update when it makes mess and rebalances.
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 at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy 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. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. Please refer to the link to my footer and explore further if You want.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
I also do my trades live, Please refer to the link to my footer if you want to tail me.
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TRIANGULAR BREAKOUT + SUPPORT & RESISTANCE OPPORTUNITY IN BIOCONThe stock has formed a descending triangular pattern which is about to witness a breakout.
The stock has major support at 368 level, and it has been testing its resistance at 422 levels consecutively.
Once the triangular breakout happens, the stock will move towards testing the resistance at 420-425.
If the resistance is broken with good volumes, the stock can move towards 450, 475, 520 levels soon.
//important levels are shown in the graph.
Buy at - 390
SL - 368
Targets - 420, 455, 475, 550.
Biocon 11-04-2021Biocon Chart Analysis
CMP- 420
-Ascending Triangle Formation
-Volume support at breakout Zone
-Upside candidate...
Target:-
2 weeks- 460-475
LONG BIOCONEnter in BIOCON between 380 and 340....wait for reversal with volume on lower TF........ No sl as it was for investment purpose....... Immediate target for swing traders will be around 535,600 and long term above 650 easily......levels are marked........ best buy if goes around 285
BIOCON LONG...Buy above 479
Support seen between 395-370(which is also a fibbo level and 200 sma zone)
weak below 370
target of 544-560-578
above all important moving average
Option
BIOCON 500 CE(Jan)-- above 15.50
BIOCON looking good @ 386 levels Target 400+Biocon has good open interest support at 480 levels, it may target 400 shortly which is also the 50 EMA for the stock. Also there is a unfilled gap between 420 to 440 levels which may also be future targets for the stock if sustains 400 levels
