Bullish Bat Pattern in 4H Chart of Biocon Ltd. BUY around 607-609. (Target - 618, SL - 602, read below)
I just started learning Harmonics, so I'm not sure about the Target and SL yet. Want to get comfortable first, in drawing patterns according to the rules and see how it works.
- The trading decision need not be full of complex indicators, it can be as simple as this one.
- Biocon is taking support at the lower end of the weekly channel
- Note the volume picks up as soon as it reaches the lower end, a similar rise in volume can be acknowledged
- MACD showing an upcoming bullish trend
- Look for targets of 740-750
Eventhough @Biocon shows good move, It can be pulldown if it didn't get buyers(demand). I mean there are 80% chances for fail breakout. To confirm it, short if the price closes below red line and if it shows less volume(less interest).