BIOCONBIOCON IS CURRENTLY NEAR STRONG SUPPORT AND ALSO FORMING NR4 PATTERN IN DAILY TIMEFRAME, CONSOLIDATING NEAR UPPER LVLS IN 1HR TIMEFRAME
REASONS:
NR7 DAILY TIMEFRAME
CONSOLIDATING UPPER LVLS
DRAGON FLY DOJI IN WEEKLY TIME FRAME
BIOCON trade ideas
BIOCON AT VERY IMPORTANT LEVELOne can intitate Buy position in BIOCON with target of 424.40 and 485.55
Biocon from 7 May 2021Biocon is support zone --> buying recommended
UPSIDE TGT:
_ 390 -> 410
Stoploss:
_359
BIOCON (Positional)Currently at Demand zone. With a small SL, long trade can be initiated for gap filling. Pharma Index is bullish and this stock might try to catchup with other companies soon.
Swing opportunity in BioconLow-Risk High Reward Opportunity.
Go Long above 382.7 for targets of 395.25, 407.8, and 420.35 with SL 370.15.
Reasons to go Long :
1. Stock is currently trading at its demand zone marked with a green rectangle.
2. Also it formed a bullish candlestick pattern (Bullish Engulfing) on a daily time frame.
Biocon may be diamond reversalAs per market scenario, biocon may move up till to 435 - 445, as it is near very strong support and demand zone. It's my personal views, please advice if I am wrong. I am just a beginner
Long on BIOCON BIOCON is Following some different pattern, I don’t know whether it will work out or not but at present it is at support level and formed bullish candle. 14% up ward movement scope is there in BIOCON . Almost all pharma companies rallied due to COVID and RBI governor news except few stocks like BIOCON .
NOTE: This is only for educational purposes and do your research your self before investing
Biocon_8% upside potential in short termDate: 30 March 2021
Biocon (CMP: 409) can go upto 440 in short term. Target and SL given in the chart
Support reversal - positional tradeThe stock has reversed from it's support and looks good above 383.5 for a target of 424
Biocon CMP 382.2.Biocon CMP 382.2 - Biocon has reversed from 370 after a fall from high of 424 in last one month. 1
Observations
1) On six occasions in last one year whenever it touched the bottom of Bollinger band and made a BB inside green candle it has gone up to at least middle of BB in all occasions in 5 to 8 days. This time also it may repeat same feat. Middle of the BB as of today is 398. Expecting it to reach 396-400 area in 5 to 8 days.
2) Almost after results announcement of all last four quarters it fell and recovered. This time also after announcement of results it fell and hope it recovers this time also. Recovery already started by making an green BB inside candle.
3) It has multiple support at 367 range for last one year, this time also it reversed its fall from 370.
4) Buying can be done at CMP of 382 or dip up to 375 for a target of 396, 418 with a sl of 366 on closing basis.
This is for educational purpose only. Do not trade based on this idea without consulting your financial advisers.
Biocon Ltd chart analysisBiocon Ltd
cmp 381
Sell btw 385-400
SL 424
Target 362 - 323
Down trend channel
Ascending triangle breakdown
RSI below 50
MACD -ve
Biocon Shorting opportunityBiocon is week below the trend line, wait for the 1-day time frame candle closing below the trend line.
Safe entry will be at 391.
Stop loss at 429.
Safe target 1 at 371.
Target 2 at 362.
Target 3 at 325.
BIOCON looks weak !!!BIOCON : cmp : 390.85
A rounding top kind of pattern has been formed in d chart.
As well as results very weak.
398 will be d best selling lvl.
TGT 383/374/362/355
SL 402 clbs
If opens gap down don't trade.
Disclaimer: Ideas for learning Only.
Learn Regularly. Not occasionally.
BIOCON - CMP: 379It has broken symmetrical triangle pattern and gave a bearish breakout on the daily chart. Stock is likely to take support at the demand zone. A price near 372 can be a good opportunity to enter in a long trade with a stop loss of 362. However, if it does not take support at 362, we can see further downfall till 340 as a target of triangle bearish breakout pattern.
BIOCON LTD Biocon ltd can add now or near
368 support level, above 399 more bullish
Only for study purpose.
Biocon 27/04/21 TuesdayClearly price is in downtrend from few days and may continue untill strong support is found, which is way down.
Trade Wisely and Smartly.
Biocon : Rounding bottom with weaker sellers strengthAll levels are mentioned on the chart.
DISC: for educational purposes only.
Long Bioncon , enter at 383, target 484, stop loss: 343parallel channel formation, stock has been consolidating on daily charts, can long at 383, with stop loss 343 target 484
