Buy Level = 400-405
Stop Loss Level = 395-398
Target 1 = 425
Target 2 = 450
It can fill the gap but please book 50-60% profit at Target 1.
Please comment and let me know if you have any other ideas or observations or queries. Please feel free to reach out to me on Trading View.
Price struck at a small range for a couple of days and it has a high probability to break the resistance and move up in the coming sessions. However, watch out for the level 406.50, closing above this level will take 1st TGT of 420 and 2 nd TGT 450+ Meanwhile, short below 387 on closing basis for the target of 368.
Note: For educational purpose only, do not...
Biocon Ltd had been trading in the rectangle pattern in a one-hour time frame. The share faced tough resistance near 406.75 level and is on its way towards its support near 386.90 level. TIthe pair recently reverted from the upper trendline and is now extending its journey southwards. In addition to this, the Parabolic SAR indicator is trading above the hourly...
Price struck at a small range for a couple of days and it has high probability to break the resistance and move up in the coming sessions.
One can clearly see the triangle pattern marked exactly at the resistance. Wait for the price to break the resistance and go long.
Due to the earnings declaration the prices were hammered, and hence was opened as gapped down,
Reasons For Selecting:-
1.Trendline acting as a support
2.Stock respecting Fibo levels
3.Double bottom pattern
4.Gap Filling.
placing a stop-loss @ 375,
Followed by the Targets 1 & 2
