BIOCON trade ideas
BIOCON Looking GoodAfter Giving breakout of long term resisetence BIOCON looking good we may see a good upside in upcoming days
Biocon Buy setupBiocon has formed channel pattern and gave breakout and came for correction.
buy @ cmp
stop around 241
target of 268
BREAKOUT, BIOCON LTD, 74% RETURNS!!!BUY - BIOCON LTD
CMP - Rs. 254
Target - 1: Rs. 329
Target - 2: Rs. 391
Target - 3: Rs. 442
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Timeframe - 1-2 years
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Technicals - Trendline Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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biocon -waking up from slumber bullish changes evolving
1. inverted head and pattern
2. price crossing 200 day EMA with heavy volume
3.price bouncing from 2019 support level
4.MACD 50 -100 crossing zero line after a long timr
5.MACD 12-26 Above zero
6. price>18>50 day EMAs
can acculmulate at current price for good gains
Biocon looks good for buying for short termBiocon looks good for buying for short term. Targets will be 300 and 335. Reason for trade, 23 May candle was high selling volume candle, price has closed above this candle high with good volume and price movement. This can give thrust to price movement.
Please note, I am not SEBI registered advisor, this is just my view and is for educational purpose. Please consult your financial advisor before taking trade.
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BIOCON LTD - POSSIBLE BREAKOUT FROM C&H PATTERNBiocon counter seem to have registered a reversal from long term down trend and given a close above the resistance line over C&H pattern. The Break out is significant with very high volumes
I think,
a.) we should wait for few days for the Breakout to sustain for confirmation
b.) Wait for possible retesting of the Resistance line.
The Biocon look good for the following reasons:
- The Biocon has been in the down trend since 30 months (Dec-20) and is down from 480->250.During which time company has given better earnings making it more valuable (PE from 88->52, EPS 5.37->5.11)
Looks like potential long term opportunity
Enter around: 250-255
Stop Loss : Closing below 238
Initial Target : Around 290
NOTE: I am not a professional Trader/ Investment Expert/ Advisor. please exercise your judgement after independent analysis
BIOCON Daily chart suggest 20% upsideBIOCON Daily chart is showing Flag-Pol Pattern Breakout.... Targets coming 20% upside in next 50 days.
LTP - 244
SL - 230
Targets - 290+
Timeframe - 50 days.
BIOCON @ 245PHARMA: BIOCON @ 244.90 | 17-JUN-2023
Sector: Biotechnology & Medical Research
BETA: 0.61
FACE VALUE: 5
DIVIDEND YIELD: 0.61
BOOK VALUE: 78.87
SUP: 189/12
As long as this support holds, we can see 610-780, 960-1030
BIOCON @ 245PHARMA: BIOCON @ 244.90 | 17-JUN-2023
Sector: Biotechnology & Medical Research
BETA: 0.61
FACE VALUE: 5
DIVIDEND YIELD: 0.61
BOOK VALUE: 78.87
SUP: 189/12
As long as this support holds, we can see 610-780, 960-1030
Sell BIOCON call optionsBiocon after a continous fall have given a pull back, but we can see it struggled to crossed 260, that is a stiff resistance...
Sure shot trading idea -- sell 260 and above CE ... and I assure it will be zero...
Biocon Bullish TrendBiocon reached strong support level and reversal from downtrend to uptrend with closed above EMA 20. Expected target level 374.
Educational Purpose Only NSE:BIOCON
BIOCON bullish counts in both casesBiocon on long term count has either completed wave 4 & started wave 5 up which can reach 780-1060 levels or its forming triangle in Wave 4 of which wave A is complete & we are rising in Wave B Up so in both cases prices should remain bullish as the moves unfold we can decide if its impulse or counter trend move at least a move towards 374 is possible in wave B view invalidates below 191.55.
I am not a SEBI Registered Analyst please consult your advisor before investing charts shared for education purpose only.
intradayboth side potential
avoid first 15min breakout
wait for 15 min candle closing
targets are marked
follow risk management
do your own analysis
do workout
do meditation
start reading book
BIOCON @ 232I expect big bull move in BIOCON
SUP: 191/12
TARGETS: 485, 612-666-778, 960-1029, 1142, 1298, 1435-1505
BIOCON: from swing to positional both set up appears on it1. False breakdown to trap sellers and price is back to above support
2. Have been in downtrend from a very long time, so a good pull back can be seen for swing trade perspective
3. If hold for long term, then considering the SL below the support and target at ATH, risk to reward is very lucrative.
BIOCON flirting with trend line resistanceBIOCON is showing signs of a breakout, so far volumes are not supporting it. For any entry into longs it would be better to wait for a strong candle with good volume support.
intradayboth side potential
avoid first 15min breakout
wait for 15 min candle closing
targets are marked
follow risk management
do your own analysis
do workout
do meditation
start reading book
Pattern breakoutPerfect triangle pattern is forming in the biocon 15min timeframe, Trade only with the good volume breakout, With the good entry & Risk management.
Disclaimer: This analysis is only or educational purpose, Do your own analysis before trading.
