stock took support around trend line and now moving toward 375-380 ,-395 and more Sl 331.2
Biocon has retraced 23.63% and it is near support. I bet it will fall down. Short 350 CE @ 9.05 .... 9.05*1800=16290 profit if biocon stays below 350 at expiry Short 320 PE @ 2.00 .... 2.00*1800= 3600 profit if biocon stays above 320 at expiry
selling has been declined and price is showing pull back from oversold levels, only price action in coming days will lconfirm the trend whether to buy or sell side will gain momentum
Buy above 332 with a stoploss of 329. Target-335,338,344. Sell below 325 with a stoploss of 328. Target-322,319,316
Just wondering the price pulled back form its long term bull trend line Will it make to it ?? Tomorrow is day to know it
BIOCON: Grab opportunity to "GAP fill up Principle" All mentioned on chart. GO Long: @ 336 (LTP) at least 40% (at 11.10 am) More accumulate @ 330- @ 327 Swing target: @ 338.9, @ 340, @ 341.7 - @ 343 (HZ), @ 346.2+ SL: Below 319.5 (by Closing) More updates Later. FnO strategy on Query. Disclaimer: Only For STUDY. For Taking Trade Decision Consult...
Biocon BIOCON Ready for 562 after the correction , that is after retracing from 61.8 % fibonacci levels . Gave Flag Breakout which huge rise in Volumes .
Buy above 342 with the stoploss of 338 for the targets 346, 349 and 353. Swing trade.
Symmetric Triangle pattern formation on Biocon and it may break either side but the price already broken on upside. So, it will continue the bull run. Trade: Buy above - 341.00 Target 1 - 346.50 Target 2 - 352.00 Stop loss - 334.00
Symmetric triangle and as well long run trend line formed in Biocon and its seems to break on downside with the confirmation of MACD bearish crossover on bearish trend. As I explained about the symmetric triangle on previous chart (which is pasted the chart URL below). But on this chart, price may break on down side because of the trend indicators on bearish. ...
This is the continuation of the first post made before the BONUS 2:1 at top ₹1143.8. A minimum 38% correction of the current wave [3[ ₹266 is expected to meet in coming months after the current pull backs is over. A Fundamentally sound stock to have in one's portfolio
I think Biocon will rebound from the TL support; CMP 1021; accumulate betwwen 1015-1023 stop loss 995 Target 1050/1075
Aggressive traders may short without confirmation by keeping strict SL 1040 in July Futures.
This is not trade setup itself, its just an idea shared here on Biocon on potential scenario of shorts. I'm not sure about end of wave 4, as I don't have patience for sub-waves & there is no bearish reversal as of now. So either you can do subwaves & predict wave 4 end, if you don't know elliott's don't worry, just apply whatever strategy you use over Biocon &...
The stock has formed perfect pennant pattern and gave breakout with gap and good volume. It is trading below the trend line clearly telling more weakness in coming days. One can short the stock for a target of below 925.
Even though the greatest financial Gain or loss happen at price extremes, Wave theory is the quantification and structuralize of mass psychology. Awfully, the periods of pessimism and euphoria is seldom conveniently peaks at price tops and bottoms. General mistake made by Eliotian is that of starting wave counting from the lowest low or highest high of a market...