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
For education. Comment stock name for more.....
Biocon has found support once again at the previous break out level. Close above 395 the stock faces minor resistance @ 420-425 levels crossing which we could see 460-380 levels
Biocon having strong support @ 360 lvl. If Price drops with low volume on closing basis then price surely bounce back strongly and if price drops below 360 lvl with high volume then its confirmation for further downfall. Minimum Target for 460 lvl. Like and comment if you like my idea.. For study purpose only..
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. ======= I use shorthands for my trades. "Positional" - means You...
BIOCON analysis NSE:BIOCON
Government take steps to ramp up production of Amphotericin B. A sudden increase in demand has been observed in some states for Amphotericin B which is being actively prescribed by the physicians to patients suffering from Mucormycosis, a post #COVID19 complication. @businessline Biocon will be in focus
BIOCON 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
One can intitate Buy position in BIOCON with target of 424.40 and 485.55
Biocon is support zone --> buying recommended UPSIDE TGT: _ 390 -> 410 Stoploss: _359
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.
Low-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.
As 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