SUPER DUPER STRONG SUPPORTIT has taken a support of 200 ema
it also take support on trendline
it has taken a support on fibonacci 0.61% level
BIOCON trade ideas
BUY BIOCONvery low risk entry weekly Candle Shunting till 456 with daily ICMC BO1 & BO2 in place.
Monthly no overlap.
entry at 342 with SL bellow 314
BIOCON BUYBiocon downward trend may end now.
This is very low risk entry.
entry at 342 for possible upmove till 456 with SL bellow 314
BIOCONNSE:BIOCON
looks like a bottom made in Biocon should head higher from here , looking for all time high and higher targets as price unfolds...
Biocon - BuyBuy Buy Buy.
Disclaimer: Don't just blindly Trade or Invest, learn and then trade. Manage your risks properly.
This analysis is purely for EDUCATIONAL purpose
Biocon - At good support zoneHi Traders,
As you can see from the above chart, currently BIOCON at good support zone at Rs.347/-, if the tomorrow price took the support at same level you can take the buy trade. You can take the trade after formation of 1 hour candle in the upward direction. You can take the trade at CMP and SL is based on your risk appetite and target is Rs.400 to 420/-.
But if the support zone fails to provide the support to price and broke in the downward direction then you can take the short trade ( 1 hour candle should close below the support zone) to take the trade.
Based on the price movement you need to assess and take the trade. I will also update about the trade you can check in the trading view under my ID.
This analysis is for short term trade and not for Intraday.
Note :
This is not a financial advice and trade at your own risk.
Thank you.
Enjoy the trading.
BIOCON AnalysisReasons to trade: 1.Breakdown gap formation
2.Below 200EMA
3.ST and MT Outlook: Short Buildup
4. Weak RSI
5.Low Piotroski Score of 4 (weak financials)
Zone to watch out for: 325-337
Downside Targets: 316,309,296
Don't trade above 337
BioconBiocon made head n shoulder pattern on daily charts.
positional sell with sloss above 355 & tgt of 325.
BIOCONNSE:BIOCON
TOOK A RETEST FROM RESISTANCE AND FORMED A NEUTRAL TRIANGLE
BOTH VIEWS ARE POSSIBLE HERE SO BE AGGRESSIVE LET THE MARKET SUSTAN THEN MAKE A POSITION
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Raising Wedge Broken Biocon Analysis:
Broken Raising Wedge Pattern, expecting to retest around 430 and again come down for the target 360 and 320
let's see.
Reversing from supportNSE:BIOCON got beaten down heavily in last couple of weeks. Now it has shown a trend reversal on daily time frame and as it broke out above previous support and current immediate resistance with good levels and got retested on lower time frame with good volume.
Currently offering a good risk reward with a buy around 375 with a stop at 369 and with a target of 400/415
#YourMoneyYourRisk
BioconBuy this dip for bigger tgts in Biocon .
Derivatives Data suggest buying at this point as 375 ce is seeing short covering & 375 pe short build up
Buy with mentioned sloss & tgt..
Breakout from Triangle pattern?Let us see if Biocon breaks out of the triangle pattern..it moved 5.3% today, so it MAY happen..also it has been falling...if it does BO i would take a position when it reaches 390 or thereabouts. Targets would be 424, 446 and onward. Trading with SL is sensible. This is an idea, not a recommendation.
BIOCON LTDretrace from one of the best fibbonacci retrace thats called as golden retracement (0.618)
Do your own analysis before investing
biocon LTD bullishbiocon
1. a type of channel is forming
2.going to test trend line (green)
3. bulish upto green trend line
4. if it breaks go for long again
biocon bearishbiocon can be stabilizing but shorting at high is the best option we have , RSI may be showing oversold jone but it can stay oversold for longer than bulls look like anticipating.
BIOCON NSEBIOCON IS REALLY BULLISH
Holding trendline support and horizontal support its in a must long area
clear invalidation and good risk reward ratio
Biocon - Bulls may get in..Biocon - Bulls may get in..
30-08-2021
Most of the Pharma Companies were Bleeding, Biocon is on Weekly support and we can see some buyers are getting in to stage..
Hope its a right time to book something on BIOCON
Biocon at support Biocon corrected 45% from high, need to observe the buying in this stock. we need heavy buying from here, whenever we see buying without thinking we can go into this stock.
Biocon Short Term Reversal TradeThe stock has reached the lower trend line and might take support and undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby along with 200 EMA.
Risk Reward Ratio - 1:1
SL is placed below multiple major support zones + Lower Trend Line + 200 EMA and the target is placed near the upper trendline and swing high.
Opportunity to Short in BIOCON LTDThis scrip had recently broke the trend line and now it had aslo gave breakout in wedge pattern. This scrip had also broke the Monthly CPR support and price rejected at support but aslo took support in Weekly CPR support, in simple terms it is trading between Monthly CPR support and Weekly CPR support.
Do consider to short this scrip and short if price sustained below 363 level this week. It is a risky trade as overall market is in uptrend there could be false breakout, so short only if it satisfies the condition.
BIOCON Daily Confluence of BULLISH Shark & Alt bat LEVEL STRONG POTENTIAL REVERSAL ZONE
Withiin 3-5 price bars PATTERN need to be get confirmed from a BULLISH CANDLE with RSI Above 30
POTENTIAL BUY
