Buy Biocon futures, target 376, timeframe 3-5 days
Biocon completed its last major corrective structure as a "Flat" after completion of impulse move.
It has been forming next impulse move and has completed wave (i) and (ii) and wave (iii) has been in the formation.
Wave (iii) is generally an extended wave, i.e. it has its own 5-subwaves with sub-wave 3 having 5-sub-subwaves. This is the expectation; accordingly, waves have been market.
All the wave markings are given in the chart. The stock has given a breakout of recent consolidation.
Buy Biocon futures with a target of 376 with a timeframe of 3-5 days with a reasonable stoploss as per your risk-reward appetite.
Happy Trading!!
