BIOCON trade ideas
Biocon { 30 M Long }Hammer in formation at support & it also gapped down . Rest is as per chart
Note :-
Entry - At the break of mentioned candle's low/high
Stop Loss -
In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use 15 M tf SL & trade in 30M tf which I'll mention. Vice Versa for long trades
Trailing Stop Loss ( TSL ) - Mostly I trail stop loss by PCH as price falls . I exit as PCH breaks & vice versa
Use of PSAR as TSL :- TSL get's hit in trend following due to noise, In such cases I use PSAR to be in trend & exit if PSAR direction change
You can use any one of above mentioned or your own way to manage risk
Time Frame :- I take ~ 90% of my intraday trades in 15m tf. Where my analysis might come from higher frames like W , D or 1hr chart pattern which will be mentioned.
Target :- I do set target line based on support / resistance slightly above/ below it . Please pay attention to it
Biocon - Intraday Trade SetupBiocon CMP - 471.25
Looking bullish in higher time frame. One can go for Intraday / Swing Trade setup with the following entry, exit & targets
Buy at or Above Only 473 / Stop Loss 466
Target 1 - 477
Target 2 - 480
Target 3 - 483
Disclaimer: This is my view and for educational purpose only.
Biocon- CMP 463.9Biocon- CMP 463.9 . Today Biocon taken support at 20 EMA and raising. Earlier also on few occasions it took support at 20EMA and went up. RSI also took support and going up. MACD graph also started showing positive divergence. It is expected to go up and cross pervious highs of 487 and may cross 500 too, with SL of 451. This is for educational purpose and any investment shall be done after consultation of financial experts.
BIOCON - Levels for Positional trade- Duration 10-15 daysFor positional Trade :
Currently trading in channel range & taking retracement support at fib 50% retracement
Good Risk to reward ratio
R-429/448/463
S-418/413/407
(No entry zone-417-424)
Disclaimer: I am not SEBI Registered ,This is just my own view.