achalmeena
Short

BIOCON - short below 519 (18th May 2019)

NSE:BIOCON   BIOCON
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The demand supply zone on weekly chart is between 520-524. This zone is being tested for third time.
In third test on 17th May price opened gapdown into the zone.
Another point to be noted is it's gapdown open was within range of previous bar. The gap was ultimately filled in the same day.
Close is within the zone.

If open is above 524 , we can have short term buy. If open is below 519 , I would suggest a short with a target of 450 within a week.
Order cancelled: It has opened above 524 , look for long with a target of approx 545
Trade active: 519 new resistance
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