Biocon on Sell, nearest target and support 414Biocon on Sell, nearest target and support 414, if it crosses it can touch 402 levels
BIOCON trade ideas
EXPLOSIVE MOVEMENT IN BIOCON TOMORROW PENANT FORMED , WILL WAIT TOMORROW FOR15 MINS AFTER THE MARKET OPENS TO SEE WHICH SIDE THE STOCK GOES ACCORDINGLY WOULD TAKE THE TRADE
ITOLIZUMAB CONTROVERSIAL COVID DRUGNot in this trade but looking for an entry when it does drop and the support level at previous ATH meeting the uptrendline from 2016 would make sense.
4hr time frame we have the 50 day which has been acting as support with us hitting some sort of resistance at 444.
408 looks like a good entry for a short term trade with targets on the chart since am bullish on the nifty till the 26th of August after which i think i should have scaled out of most positions ..
Think this has earning's coming up this week not sure what they would be but technically we are looking good to continue price discovery .
390 is where i'm interested in to enter when it does drop. lets see how this plays out next few weeks.
Just did a quick search about the company and the news, recon the people should fomo into it some more for a nice blow off top so beware!!! enjoy the ride to those on it :)
Biocon from 5 July 2020Biocon is again showing sign of coming out of consolidation zone though volume is not increasing much
MFI is increasing n possible breakout possible
monthly analysis
1. at max 15 % increase possible ---> 400 * 1.15 == 460 ( at max ) (highly unlikely )
2. at max 15 % decrease possible --> 400 * 0.985 == 340 ( at max ) ( highly unlikely )
safe upside setup is to buy at 401 with SL : below swing low with target of 2R
option strategy ..
Heart of steel --> Million miles journey
1 .Sell 340 PE + Buy 300 PE ( less margin req )
Biocon under SM triangle can break since biocon got approval for COVID 19 medicin can give good return on short term
Shorting Biocon till the next Fibonacci retracement Biocon seems to be at a weak position , Buying climax is clearly visible complimenting low volume and low price action.
Biocon near to rectangle breakoutNear to Rectangle breakout. Huge Call OI on 400 if it will break it then will start journey to Upwards. Level 380 has strong support. RSI is showing strength again above level 60. (Disclaimer: Only for education purpose.)
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 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.
