BIOCON trade ideas
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
biocon ltd, 4 htf, in range biocon preforming in channel pattern if it take support from their than we can catch small wave sl of 369 target at 413 buy if market bullish tomorrow it base on pure price action take your trade on your risk it's only for learning purpose .
Watch closly - BIOCONIf it is not breaking the support of 385 then, bounce back is expected. keep learning
Biocon Looking Good to buy at the breakoutBiocon swing trade bounce back from the previous lower levels
