Fib- the short term trend in this counter is extremely bullish. Hence any dip is an opportunity to buy.
RSI- RSI taking higher support on hourly chart is very positive
positive divergence on the 15 chart is indicating reversal.
Conclusion- Buy above 283 on a 15 min close candle. T1 292
As per set up, MACD attempt to cross centre line with huge volume, and RSI is bullish, moving averages are positive, so from here, trend reversal signals are coming, looking good for next 6 months, levels 350 and 380 can be seen.
#Biocon A sleeping giant awakening?
Breaking free! The downtrend seems to be fading, and whispers of an uptrend are in the air. Time to grab some before it takes off? #Bullish
CMP 291
Trendline breakout
Volume buildup
#BREAKOUTSTOCKS
#nifty #nse #pharma #Multibagger
#StocksToBuy
BIOCON has been making Lower Highs and Lower Lows for the last about 3years, on the weekly chart, as it dropped 60% between Dec 2020 high and March 2023 low. After that it made its first Higher Low during October 2023, and this week it broke its prior swing high thus making a Higher High. The latest move since March 2023 is also marked by volume support as the...
CMP 272
Moving with respect to parallel channel....
280 is strong resistance
BOUNCED FROM MAJOR DEMAND ZONE 190 levels...
Positional Setup----
Buy ABOVE EOD CLOSING of 280 levels
TARGETS 300 / 320 / 340 / 360 / 380 / 400
Buy at Support 250 / 220 / 200
Regards..
Keshav...
30/09/2023
Disclaimer. I am not a SEBI registered advisor. All views shared on this...
#BIOCON has broken out of the range on the weekly chart. While there's a minor resistance, as indicated on the chart, the high volume and strong relative strength lead me to anticipate the stock absorbing the supply and reaching new highs.
BIOCON out of Ventilator and at 52 Week High🔥🚀
Reasons for bullishness:
1. Volume Build Up
2. Broke Monthly Resistance
3. Broke Ascending Wedge
🔷CMP: 282
🔷Support at 270
🔷Heavy Resistance at 340
Biocon weekly chart shows good move with volume, trendline breakout & closed above previous swing. One can add this for short term/long term in portfolio. SL is little big so quantity management is most important.
Checkout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPEECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get...
biocon formed bearish pattern.
This is channel pattern downside Breakout so this is Trend Reversal in to downside. It will some Retaresment happens will take short Entry @259 and strictly maintain stoploss @266 first Target is 240, second Target 219
NSE:BIOCON Only SIP when the herd is fearful for Financial Freedom
Do your own research before investing or trading in any stock or indices or crypto.
Disclaimer:
This is not a financial, investment or trade advice. Its only for educational purpose.
