BIOCON trade ideas
Breakout of Rising widge channel in biocon After a series of consolidation in biocon it's gives are rising wedge channel break out and we can see 362 and 400 level in coming few weeks this is not a recommendation just the view
BIOCON breakout seen on weekly chartBreakout has come after being in downtrend since Jan 2021.
Stock has moved above 50 MA on weekly chart with huge volumes.
Higher lows and support can be seen.
BIOCON is good for long term or swing investment ? :-)yes absolutely, it is good as per market structure and exact reversible. my entry 291.30 and sl at 291 and target will be 597.65. Biocon going to boom with in 6 month or one year.
BioconStock name = Biocon Limited.
Weekly chart setup
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling recommendations. I am not SEBI registered. please consult your financial advisor before taking any trade.
BioconThese are swing ideas which you can add your watchlist and analysis for yourself !
Keep on your radar!
This I am not sebi ragister❗
BIOCON LTDBreakout with good volume, crossed resistance and trendline this week. Looks like it will soon come out of consolidation and will shoot up.
A new wave began in BIOCON _35% upside The bio pharma company is on its way towards the 320 in a wave 3 structure according to the Elliot wave. That shall be a 35% jump from the CMP.
The biologics major had set out an impressive impulse wave from march 2023 - Sep. 2023 and rallied around 45% during this period.
Upon the completion of the wave 1 however the company slid down in wave 2 structure(Elliot wave zig zag in this case) and completed a crucial 61.8% retracement of the Wave 1 rise.
The stock is making a move right from this crucial 61.8% retracement support level.
The Wave 3 target is projected to be around 320 zone.
It is also important to note that Biocon posted a 168% year-on-year rise in its consolidated net profit for the September quarter to Rs 126 crore. Biocon's revenues grew by 50% to Rs 3,462.3 crore. The results were declared on Friday after the market hours and the stock gained a little over 3% on Muhurat Day trading(Sunday evening).
Note*- This chart is based on personal observations/opinions. Please do your own research/analysis before making any financial decisions.
Biocon right now is stagnant, still a long term investment idea.Biocon Ltd. CMP – 249.30 (Long Term Investment Idea) (But can be frustratingly slow moving and stagnant)
Market Capitalization Rs 29,931Cr
Red Flags:🟥
High Valuation (P.E. = 60.1)
FIIs are decreasing stake
Green Flags:🟩
No debt
Zero promoter pledge
MFs are increasing stake
Improving annual net profit
Improving cash from operations annual
Previous Happy Candles Number – 53/100
New Happy Candles Number – 58/100
X/2 Fresh Entry/ averaging / compounding after closing above 251
Final Entry 258
Targets: 264
Long term target: 274
Stop loss: Closing below 220
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
bioconcan long for 380 levels in coming months
disclaimer:
i am not sebi registered analyst
this is for educational purpose only
do not take huge trades on educational chart overview
Biocon might bottomIt's 4 pushes by the sellers and it's away from the moving averages.
after 4 pushes any stock or item changes character, we can expect a pullback till 244.
The support is also a fib 50% level plus the round number of 225.
The pullback should be violent and we can enter long after we see a red engulfed by green in hourly timeframe.
I have already entered long, taking a small risk.
Stop loss is the low of the green hourly candle (if it forms tomorrow).
Cautious, Careful and Bullish Slow and Steady ....Soon we might see some action on this counter.
Mostly on up side. But we never know. Cautiously Bullish
BIOCON--@Trendline??this stock is near its trendline....but no sign of bearishness...
if we want to go for short wait for the price to break the trendline and retest...
A strong rise is observed from 235 levels....
if price breaks the trendline look for buy @235 zone....
Don't go for short side...
BIOCON India - API manufacturer Long BUYCurrently BIOCON an indian company looks strong on Revenues and product development with exports to over 120+ countries.
fundamental goods promoter started buyingbuy at 290-25 limited qty buy on dips sl below trendline wcb target as per chart
BIOCON viewsThe value area in this script seems to be reacting well.
Now on for study purposes this script will be watched for upside move.
[Intraday] Biocon Intraday Bet Weekend ScannerWeekend Low Scanner
Time frame - 60min
Level - 12
Biocon has not broken the high of the previous candle in the 1H timeframe for last 12 candles.
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
=======
I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
=======
I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
=======
Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
=======
biocon its subsidiary Biocon Biologics has completed the integration of the biosimilars business acquired from US-based pharma company Viatris in over 70 countries, according to a Wednesday filing.
Biocon Biologics had agreed to acquire Viatris Inc's biosimilars business for $3.33 billion in February 2022.
"The transitioning will allow Biocon Biologics to meaningfully expand the geographic reach of the existing biosimilars portfolio and future pipeline into growth markets where Viatris has existing sales infrastructure and local market expertise," Susheel Umesh, chief commercial officer - emerging markets at Biocon Biologics.
Biocon Share elliot wave analysis Biocon share complete Wave 1 daily time frame . and price come downside wave 2 . Wave 2 internal wave a,b,c complete or 0-b trendline breakout wave 3 start volume increase wave 3 target 300
Biocone Weekly CMP 265 Breakout. Buy Biocone Weekly CMP 265.50 after almost mid of dec 22.
SL 230, Target 1 is 295in 4 week and Target 2 is 350 in 12 weeks
