Price has reached strong resistance zone which is also the resistance line of the consolidation. It is a crucial level since move on either side is possible.
Yesterday I expected that price would hold at the resistance zone. I am proved wrong by a bearish spurt today. Now it is possible that price will take support at the bottom of the consolidation pattern.
As stated earlier, price is consolidating in a range, so there is a high possibility of a range breakout taking the price to new highs. But breakout is yet to happen. Interestingly, despite Nifty crashing down today, price of Biocon has not been adversely affected. This indicates to strong bullish sentiment.
Consolidation Pattern in the making. Price moving above 648 and holding is a breakout target of which is (+90, breadth of the pattern) 740. Option: a) buy at the bottom of the pattern (if it comes) and hold with a small stop loss, or b) buy on breakout. Good investment stock. The stock is in strong bull market (making higher high and higher low). Hence...
The price movement is in rage bound and its undecided the direction or who is in control of price
Buyers are trying to push the price but seems sellers have also trying to push it down , the war is still on
I understand if price brakes down the 1104 then it will head to downward trend without any Question
if price Close above the 1128 then it will likely head...
