BIOCON trade ideas
Biocon - Cup & Handle Pattern - BreakoutBiocon has broken above from a cup and handle pattern on 30 mins time frame.
Initiate long.
Target 1: 425
Target 2: 435
Stop Loss : 403
BIOCON embraces target 1 completelyare you agree with it.
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BIOCON it seems days are rosyit can touch t1 ,t2 and t3 in due course,
it seems it is breaking out if range.
Biocon Stock to take the short entry.In Daily chart we have seen the shooting star candle at the Resist.level to take the short entry. Short entry can be taken below the level of 400 as we can see strong support at this level. Let's wait to BD this level. After 395 once stock move below the 20 EMA level then we can see the 390 level in the stock. So add the stock in your watch list to see the further price action movement in the share.
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask .
BIOCON looks weak from resistance with Negative divergenceBIOCON looks weak from resistance, i see RSI Negative Divergence when the price is making higher high. Better to book profit and exit if in profit already.
Expecting 390 level to be touched again !
SHORT BIOCON THE STOCK HAS BEEN FOLLOWING A CHANNEL WITH CONFIRMED SIGNALS VIA VOLUME
MY TARGET WOULD BE @ 393
Fibonacci Time Zones - BioconI have applied fibonacci time zones for the stock Biocon. With Addition of high Open-Interest and market looking volatile. Cash could flow into low beta and defensive stocks.
And the time zones depict a good breakout in 1 or 2 trading sessions.
Biocon - Buy for short termRSI Above 50, 5 EMA Above 21 EMA - Ideal for atleast 5% uptrend in short term
Biocon - Bearish Setup - Price ActionPrice Action in Biocon is signalling bearishness.
Initiate Sell.
Target : 379
Stop Loss : 398
BreakoutThere could come a bullish trend in biocon tomorrow and stock might surge upto levels of 415 to 420
Broke the range and closed in 52 week highVolume is not that great. let see tomorrow
Keep a eye on this
