NSE:BIOCON got beaten down heavily in last couple of weeks. Now it has shown a trend reversal on daily time frame and as it broke out above previous support and current immediate resistance with good levels and got retested on lower time frame with good volume. Currently offering a good risk reward with a buy around 375 with a stop at 369 and with a target of...
Seeing the level Biocon is respecting and retracement from the lower side, it has a huge probability of moving up considering the boom in the pharma sector.
All the key levels are mentioned in chart with Stop-loss and Targets Disclaimer I am not sebi registered analyst My studies are Educational purpose only Consult with your Financial advisor before trading or investing
This is a beautiful triangle pattern giving a upwards breakout, so you can make a 7% profit.
For 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.
This analysis is purely based on Price Action & Chart Patterns. Image is self-explanatory with both logic & trade-strategy. Trade can last up to a couple of days to few weeks depending on the price behaviour. *Kindly do your own research & then enter in any trade at your own risk* Pls comment for any query or suggestion.
NSE:BIOCON EXPECT CONSOLIDATION IN PHARMA SECTOR TO END ,BIOCON EXPECTED TO GIVE GOOD MOVE BUY RIGHT SIT TIGHT IF BREAK 402 LEVEL BUY CANDIATE ON PULL BACK IN RED PATTERN STOCK IS EXPECTED TO MOVE PALAT TRADE SL SHOULD BE CLOSING BELOW RED LINE VIEWS INVITED
NSE:BIOCON gave a bull flag as well as resistance breakout.
Stock has been trading in a narrow range from past 16 trading session. This is probability play on the upside breakout because of good risk reward ratio. Close below the 378 levels , would negate the said probability.
BIOCON has seen a range breakout in yesterday's session and today we are also seeing follow through and sustaining above 390 levels can take stock to 413, 435 and 450 levels. Any dip in the stock ,can be a good opportunity to enter the stock. Note :Higher time frame are also in alignment with this trade -setup Do not follow blindly, please do your own research.
Hey everyone, Biocon is still a good buy 350-365 range for Long term Investment. Target should be 520 in the year 2020. Stock Momentum is good in upside and can be considered to add in any Portfolio.