BIOCON which has been in a downtrend for a very long time now has given a mega reversal signal via an ABANDONED BABY BOTTOM
Abandoned Baby Bottom reversal are similar to Island Reversals, where the isolated candle is formed with a gap down preceding it and a gap up succeeding it.
This could now rally till 320-340 where it meets falling trend line resistance. The structure would be considered wrong if it breaks 298
Reason it didnt worked as Biocon is in downtrend .. stock is making lower lows .. atleast should break previous swing highs.
Dinesh_C_Nagpal
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@anandnst, Abandonded Baby Bottoms are formed in downtrend reversals not in uptrends or after a reversal has taken place. Hence they are terms as abandoned baby "Bottom"
punitphogat1998
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lol your mega reversal is failed . we cannot say one pull back a mega reversal. plz dont make retail traders fool. Its there hard earn money
Dinesh_C_Nagpal
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@punitphogat1998, If a pattern is spotted I follow the process and also highlight the risk in it. If every set up worked then there would be no accidents/faulures, it is as simple as that. BTW you can continue to waste your time commenting useless stuff