NSE:CONCORDBIO Daily close above 1565 level may lead the stock with 1st target near 1695 at 1.618 Fibonacci extension level. If stock cross 1700 level then lead to around 1900 level. Trailing Stop Loss near 1500 level.
Good candle and formation BO done. But there is a resistance (dotted green line) yet to be dealt with. Once this is crossed, higher levels become a possibility. SL is always to be followed strictly (red line). --- --- --- The first and best victory, for good traders, is not the money; it is to conquer the self.
CONCORD BIOTECH (1D TF) - Swing Trade Analysis given on 25th Feb, 2024 Pattern: RECTANGLE BOX - Volume buildup at Resistance - Done ✓ - Resistance Breakout - In Progress - Retest & Consolidation - In Progress #stocks #swingtrade #chartanalysis #priceaction #traderyte #CONCORDBIOTECH #stockmarket #sharemarket #viral #sharemarketindia #StockMarketindia
The stock has given IPO base breakout on closing basis on the daily chart along with improved RS. Thus, positions could be initiated 1000-1012 target 10%