BIOCON - BREAKOUT CANDIDATEStock has been trading in a narrow range from past 16 trading session.
This is probability play on the upside breakout because of good risk reward ratio.
Close below the 378 levels , would negate the said probability.
BIOCON trade ideas
biocon 23rd june 2020my tgt-
buy above- 388.70 tgt-390/392/393/395...400
sell below -387.20 tgt-386/384/382/380...375
Please do ur own analysis before trade.
This is only for education purpose.
A crucial level to break, RSI, entry/exit/SL in descriptionNSE:BIOCON
Date 19-Jun-2020
CMP 390
In the time frame of 1 Dec 2016 to 1 Oct 2018 notice the price gets doubled and RSI in negative divergence. (Refer rectangle boxes). This let to the distribution phase for the coming year.
Volume supported up-move in the month of May. RSI has now broken out of negative divergence levels and now making HH. MACD looks bullish monthly, mildly bullish weekly.
Daily chart looks bearish, might get below 377 level. Personally I feel this is not a good time to enter as it is taking major resistance around 400. That's why taking a Neutral stand for now.
Good buy if breaks the channel and sustains around 404-412 WCB/MCB, SL 365 TG 500+, RR 2.
Can do buy on dip once entered in the trade, but I think it'll be a long journey to the target.
BIOCON - RANGE BREAKOUTBIOCON has seen a range breakout in yesterday's session and today we are also seeing follow through and sustaining above 390 levels can take stock to 413, 435 and 450 levels.
Any dip in the stock ,can be a good opportunity to enter the stock.
Note :Higher time frame are also in alignment with this trade -setup
Do not follow blindly, please do your own research.
BIOCONA range-bound market is one in which price bounces in between a specific high price and a low price.
The high price acts as a major resistance level in which price can’t seem to break through.
Likewise, the low price acts as a major support level in which price can’t seem to break as well.
BIOCONIt has been consolidating for last few days, need to look out for the ranges and levels mentioned.
bicon 15th june 2020Please do ur own analysis before trade.
This is only for education purpose
biocon my tgt
buy above 385 tgt-up to 400
sell below 384.10 tgt-up to 370
Long Term Picture of Biocon - A really BullHey everyone,
Biocon is still a good buy 350-365 range for Long term Investment. Target should be 520 in the year 2020. Stock Momentum is good in upside and can be considered to add in any Portfolio.
Bicone gave more than 27 points today !!Today Bicone formed a nice ascending triangle pattern. Profit made.
LONGACCUMULATE BIOCON IN THE RANGE OF 319-322
WITH IMMEDIATE TARGET PRICE OF 350
TRAIL STOPLOSS ACCORDINGLY
360-365 IS BIG HURDLE IF IT BREAK THIS LEVEL
WITH GOOD VOLUME ANOTHER TARGET IS 410-420
ONLY FOR SWING TRADERS
BIOCON HAS TO BREAK 366 FOR ANY UPSIDE SIDEWAYS TREND AND ANY UPSIDE WILL BE POSSIBLE ABOVE 366 / 370 LEVELS
KEEP IN WATCH LIST
CUP AND HANDLE PATTERN HELLO GUYS..
MIGHT HAVE EARNED LOTS OF IN LAST ANALYSIS..
AGAIN I HAVE COME UP WITH ONE MORE PATTERN ,CUP AND HANDLE..ITS A BULISH PATTERN AND IT HAS RETESTED ITS BROKEN RESISTANCE SO NOW IT WILL WORK AS A SUPPORT...ALL THE BEST ..
Biocon looking bullish on Chart and ready for RocketBiocon looking Bullish on Chart. Good time for making Long position on it.
1. Elliot Wave 2, just completed its retracement by 0.5 of Wave 1.
2.Elliot 3 Wave is also started.
3. Prince action is under Ascending Traingle pattern.
4. Higher low, lower low in price action and Lower Low, Lower Low in RSI confirm the Trend Continuation.
Levels can be taken from Fibonacci, placed in chart.
