this stock is near its trendline....but no sign of bearishness...
if we want to go for short wait for the price to break the trendline and retest...
A strong rise is observed from 235 levels....
if price breaks the trendline look for buy @235 zone....
Don't go for short side...
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.
Biocon is in its lowest support. soon the bull rally of oharma is going to come. you could see the last candle, made a touch to its lowest support and bounched back up.
adding on: even look at the size of last 3-4 red candles, which are getting smaller in size. saying that sellers are getting in control, and markets forming a range.
price targets are mentioned.
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...
Biocon formed a double bottom pattern and is ready to move upwards.
One can either wait for re-test r can also enter with 325 levels as STOPLOSS.
Trade safe. Manage risk. Be profitable.
Please follow us for more simple trading analysis and setups. Also let me know in the comment in case you have any queries.
Disclaimer :- This is just my view. Please analyze...
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.
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
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.
![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]")
