BIOCON trade ideas
BIOCON Levels for tomorrow Rounding bottom formed on chart...as well can be a cup and handle can be formed.
Biocon - 200EMABiocon has usually respected the 200EMA. Another retest might happen tomorrow.
Lookout for another bounce off support (Go long w tight SL) or if it badly breaks down with high volumes then over the next few days it could give a short opportunity.
Resting on Retracement 583.85 - Next Target 669.50SL 557.35
if closes monthly above 669.50, Then next target 808
CCI34 Monthly is still above 100
CCI8 is below 0 - Nice Retracement view, must jump from here.
BioconWild price move yesterday. Even though there is a very good news from USFDA for the new product. We wait for market to digest the new developments.
Biocon, ConsolidationPrice has reached strong resistance zone which is also the resistance line of the consolidation. It is a crucial level since move on either side is possible.
BIOCON IS POISED TO MOVE HIGHER...BIOCON IS POISED TO SCALE HIGHER AS THERE IS BULLISH T/K CROSS AND SLOWLY TWIST APPEARING..
Biocon, ConsolidationThis study was posted earlier. Consolidation has yet to be finished. Then see a big price move in the direction of the trend.
Biocon, ConsolidationYesterday I expected that price would hold at the resistance zone. I am proved wrong by a bearish spurt today. Now it is possible that price will take support at the bottom of the consolidation pattern.
Biocon, ConsolidationAs stated earlier, price is consolidating in a range, so there is a high possibility of a range breakout taking the price to new highs. But breakout is yet to happen. Interestingly, despite Nifty crashing down today, price of Biocon has not been adversely affected. This indicates to strong bullish sentiment.
BioconConsolidation Pattern in the making. Price moving above 648 and holding is a breakout target of which is (+90, breadth of the pattern) 740. Option: a) buy at the bottom of the pattern (if it comes) and hold with a small stop loss, or b) buy on breakout. Good investment stock. The stock is in strong bull market (making higher high and higher low). Hence consolidation is logical.
biocon,hourly chart, long tradebiocon making an ascending triangle in a hourly chart , buy at 348-350 for a trgt of 374
