if this range of 560 holds. another 10 % can be seen before breaking the range of 560. if you see pull back in the nifty biocon tend to retrace upto 612. But i want to put forward my analysis that distribution already started in Biocon, it is also candidat e for sell on rally. since the chart structure is good it will give illusion and analysts to call for buy.
I hope you can now see how BIOCON CHART Pattern represents an excellent low risk profit entry setup allowing you to trade. Hence the low risk profit entry setup. You will also have seen with the correct price and time analysis you can determine your entry and exit with high levels of accuracy ensuring the risk/reward is always in your favour..
Thanks for reading...
Breakout above 650
Long above 650 for targets of 750-800 in short term (3 to 4 months)
Strictly short term trade and to be initiated above 650 only with a SL at 580 once trade is initiated
1. Biocon is in strong uptrend in all the HTF (Monthly, weekly and Daily)
2. Price turned from DN to UP @564-553 forming explosive bullish candles both on 75 mins and Daily
3. It can easily give a RR of 4 - 5
The stock had a bull flag breakout and it has been retested lately. Now its followed by a ranging session, where two of the below entries are possible.
1 - Range low entry around 600 based on closing bull signal.
SL -585.
T1- 620
T2 - 630
2 - Breakout from the range on upside and above 621 on closing basis.
SL - 600
T1 - 635
T2 - 645
These are my personal...
Hi,
Trade levels highlighted on chart.
Trade Plan:
1. wait for price to close above the trend line (4hr)
2. Go long with the continuation move (above 621)
3. Follow the levels given on chart.
Trade with care
Gulz
The long trades could be initiated above the neckline of this inverted pattern.
Hope this idea will help some traders for better trade planning.
Do hit the like button and comment if necessary.
Regards
Bravetotrade
It has been observed that the price action consolidating on higher levels and then breaking out on downside indicating a strong selling pressure at higher levels. Now, it shall further corrects the previous upward move.
T1- 590
T2- 575
SL - 625
