BIOCON trade ideas
BIOCONBIOCON is in consistent uptrend. For last two months, it is is trading in a rising channel. Now it looks to have taken support on the channel support line around 395. A resistance turned support line also passes around 395. The stock can be bought @ cmp 409 for targets of 440-470 with a stop below 384.
BIOCON LONG IDEAENTRY AND EXIT IDEA AS PER CHART.
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This is one person’s experience, your experience may differ.
Biocon's Short Term Play.Biocon broke the Trend Line in Hourly + Daily + Weekly Timeframe.
Stock will take a pause on the Monthly Timeframe.
Although Biocon looks bullish for the long term on the Monthly timeframe, we can see a pullback in the short term.
BioconLong in the range 388 -391
SL 381
T 395,401,406
Disclaimer: I am not a SEBI Registered Analyst. This is for educational purpose and my personal view. Please take position after consulting your advisor.
BIOCON for 27/07/2020 - Falling from a breakout with good volume.
- Created a downside flag pattern on 15 min charts and broke out of it with volume
- Simple analysis, easy to understand
BIOCON LONGSIDE1) Fib level 61.8
2) Parallel Channel
3) Presence of divergence
Trade Strategy
Entry point= 408
Stop Loss = Below 400 ( Closing Basis)
Target = 440
biocon - downward??In my previous posts it was seen as a H&S pattern. But, after making a H&S within the head it has started moving down. That's how the stop loss was triggered in the previous post. But, overall movement is seen downwards
Trading is a skill not your Luck!Congrats to everyone who have studied my BIOCON pattern took the breakout entry and captured a huge move in intraday
People who have just watched it and learnt from it is also appreciating
This is the power of Price Action
If you are learning from my ideas and getting any benefit from it please like my ideas its a motivation for me.
Triangle Breakout!!TRADING PSYCHOLOGY : The stock forms a triangle pattern when the tug of war between BULLS and BEARS is at the end stage where one is bound to give up.
AC line will act as resistance line.
BD line will act as support line.
when to trade : The candlestick has to break the support/resistance line with increasing volume to confirm the direction.
STOP LOSS: If the breakout is upwards then support line will act as stop loss.
If the breakout is downwards then resistance will act as stop loss.
PS : This is 15 minute candlestick chart so the targets are most likely to achieve in 1-2 days.
The accuracy of this strategy is 80%.
Symmetrical TriangleSymmetrical Triangle observed in biocon 1H TF.
Stock is in an extended uptrend and will keep moving up for foreseeable future.
Long Entry at 332.50
T1 440
T2 446
SL 424.50
Given that the Pharma is in uptrend and Biocon is leading the pack, Downside is very limited.
Also Trend is a Friend.
