BIOCON - Good looking trade setup - data + chart looks positive
CMP : 381.25 (Post market 19/06/2020)
SL : 374
Target : 399 (Safe)
1:3 risk reward trade setup
This script stock behave like i know what i'm doing. When NIFTY major index is falling BIOCON was in up trend. Now when NIFTY is bullish BIOCON has slipped but at a beautiful support level.
1) PCR for July = 0.29 Very bullish
PCR for June = 0.39 Very bullish
2) Open interest is highly increased at 400 price level which is recent swing high / resistance. Clear bullish sign
3) Price is at crucial trendline and recent swing support high. Consolidating very nicely
4) RSI recovered from Oversold area in the last 30 min's and stabilized.
SL : 374
Target : 399 (Safe)
1:3 risk reward trade setup
This script stock behave like i know what i'm doing. When NIFTY major index is falling BIOCON was in up trend. Now when NIFTY is bullish BIOCON has slipped but at a beautiful support level.
1) PCR for July = 0.29 Very bullish
PCR for June = 0.39 Very bullish
2) Open interest is highly increased at 400 price level which is recent swing high / resistance. Clear bullish sign
3) Price is at crucial trendline and recent swing support high. Consolidating very nicely
4) RSI recovered from Oversold area in the last 30 min's and stabilized.
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