supply demand conversion zone Long

BIOCON LTDNSE

Description

⋅ Sep 6, 2022 1:11 PM

** This is a weekly time frame analysis (it is not like one buy and price start to move , it takes time to fly)

** Biocon is seating at demand zone (300-280)

**Stoploss -258-263

** targets_ 1st-382, 2nd- 426,3rd -483

This is simple setup for medium term swing trade ( success rate - 58% but reward are multifolds)

One should apply this strategy and find their own way to enter and exit.

Comments

StockWhizzer

⋅ Sep 7, 2022 4:19 AM

Also, duration for targets

mahhisingh

⋅ Sep 7, 2022 9:06 AM

@StockWhizzer, leave for the market

StockWhizzer

⋅ Sep 7, 2022 4:18 AM

is 61.8 retracemnt complete @ 290 or more correction?

mahhisingh

⋅ Sep 7, 2022 9:05 AM

@StockWhizzer, yes bro but one should enter with stoploss

StockWhizzer

⋅ Sep 7, 2022 9:33 AM

305 now, wherz this heading, fake upmovem

mahhisingh

⋅ Sep 7, 2022 10:23 AM

@StockWhizzer, fake move, how did you find that? (any tool plz tell me)
it is showing demand at demand zone :)

StockWhizzer

⋅ Sep 7, 2022 12:11 PM

@mahhisingh missed on the question mark:) actually tats the way the stock is behaving, lower lows & dumped on expiry. Also, option chart shows strong resistance @ 310, u agree?

mahhisingh

⋅ Sep 8, 2022 11:02 AM

@StockWhizzer, I do not see option for medium term swings, according to my setup , it should start to move up gradually

StockWhizzer

⋅ Sep 7, 2022 12:13 PM

Also, ur view on Suzlon, will it break its Feb high of 12, or in selling zone again?

mahhisingh

⋅ Sep 8, 2022 11:00 AM

@StockWhizzer, 11-12.5 supply demand conversion zone, it has tried two times to break this level already so now 3rd time ,it should give breakout on weekly time frame

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