BIOCON is trading in down trend since many days. now its near to its weekly support.
wait till it touch weekly support and sustain there. 245 can work as trend changer.
Lets wait & watch to cool down near support and forming some positive candles.
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Disclaimer
I am not sebi registered analyst
My studies are Educational...
As per Fibonacci levels NSE:BIOCON has been retraced 70% on weekly chart. Now price is trading at major support of 270.
My idea is to take entry at 270 with Stop Loss of 255 (-15 Points only). My expected up side target will be 287 (+17 Points) & 311 (+41 Points). This could be low risk and high reward option.
Note: This is my personal analysis, only for...
NSE:BIOCON is sustained above major resistance of 270.
My idea is to take entry once price correct or retest level of 272. It will be best risk and reward option.
My stop loss will be 255 and upcoming target would be 316 & 349.
Note: This is my personal analysis, only for learning.
Thanks.
NSE:BIOCON
Trade Setup for 18-04-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or...
Entry 398
Stop Loss 394
Target 406
Plan of Action
Trade with 250 shares
RISK : REWARD Ratio 1 : 2.00
Profit
(Pre brokerage) 2000
Loss
(Pre brokerage) 1000
Purely for intraday only.
Please trade after thorough study.
This article is for education purpose only.
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.
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.
![BIOCON: Simple Trade Setup | BIOCON | 18-04-2022 [INTRADAY]](https://s3.tradingview.com/t/tZgZ9Fsh_mid.png "Simple Trade Setup | BIOCON | 18-04-2022 [INTRADAY]")
