After the previous idea, I thought to make another index with 10 stocks of which I chose for basket.
Each has equal allocation.
This is an interesting way of making projection.
This is a weekly chart, and it seems Biocon has completed its correction on a bigger time frame.
It seems a good buy above 385, with SL of 332 as of now, and target of all time high of 487.
So the risk reward is around 1 : 2.
Weekly TF MACD is showing bullishness and on the verge of giving a good buy.
Monthly TF MACD is above zero line and might give a...
INTRADAY SHORT OPPORTUNITY. - BIOCON
- After a parabolic move a doji and a red Candle at major resistance. With a Divergence in shorter time frame.
Good Shorting opportunity.
Please share your views in Comments.
1. Stock has made a Bearish Flag pattern on Daily Time Frame.
2. Stock was continuously taking support on rising trendline however, yesterday's selling made the stock break down the line.
3. Today, stock has regained the Tl support with good volume with RSI support, classifying the break down as failed break down.
4. 362 would the area of Resistance (TL Resistance...
Biocon cmp 350.7
Looking at the chart,
Biocon is in its ABC mood...
Also Evening star pattern in it...
With 355 as sl,
Expecting price to move towards 335 to complete its ABC correction
Chart is for study purpose only!!!
1) On 1day time frame, we can see it is near critical breakout zone. 350-352 zone.
Above this it will give breakout of it.
Please refer below chart : 1day time frame.
Trade Setup for 07-04-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min...
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.
I use shorthands for my trades.