BIOCON - Swing/Positional Trading opportunity
This is a weekly chart to analyze the bigger picture in the stock
One can clearly see that stock is in Stage-2 uptrend with both Key MAs sloping up
Price bouncing from Key MAs (especially 40 week MA)
Volume activity is also favorable as of now
Relative strength of the stock is also high as compared to CNX500 on 52 week basis
Instead of just jumping on to the stock the very next day, I would prefer to wait for a low risk entry so that I can have bigger position with lower SL size.
This is not a recommendation. Pls do your own study before putting any money in any stock.
Share this with your friends if you find this useful.
For more learning stuff related to chart analysis, pls check out my other ideas (some of them are linked below)
You can always reach out to me anytime for any query or feedback.
Keep learning
One can clearly see that stock is in Stage-2 uptrend with both Key MAs sloping up
Price bouncing from Key MAs (especially 40 week MA)
Volume activity is also favorable as of now
Relative strength of the stock is also high as compared to CNX500 on 52 week basis
Instead of just jumping on to the stock the very next day, I would prefer to wait for a low risk entry so that I can have bigger position with lower SL size.
This is not a recommendation. Pls do your own study before putting any money in any stock.
Share this with your friends if you find this useful.
For more learning stuff related to chart analysis, pls check out my other ideas (some of them are linked below)
You can always reach out to me anytime for any query or feedback.
Keep learning
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