Biocon from 5 July 2020

Biocon 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 )
Comment: target done :)


Seems like it will breakdown as the previous bar shows that large shares have been off-loaded and only retailers are in the consolidation, as the price is rejected from the resistance twice another signal. But this case might be invalid as the could be another accumulation and SM is just testing different prices
Trade_with_yash akshayanvekar16
@akshayanvekar16, yaa it is highly possible it will again go back in consolidation range (lack of high volume)... still the option strategy will make profit since breakeven point is around 338 as of right now,which is below monthly 15% max mark though --> entire month it has been in consolidation --> lets see where it goes
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