Biocon might bottom
It's 4 pushes by the sellers and it's away from the moving averages.
after 4 pushes any stock or item changes character, we can expect a pullback till 244.
The support is also a fib 50% level plus the round number of 225.
The pullback should be violent and we can enter long after we see a red engulfed by green in hourly timeframe.
I have already entered long, taking a small risk.
Stop loss is the low of the green hourly candle (if it forms tomorrow).
after 4 pushes any stock or item changes character, we can expect a pullback till 244.
The support is also a fib 50% level plus the round number of 225.
The pullback should be violent and we can enter long after we see a red engulfed by green in hourly timeframe.
I have already entered long, taking a small risk.
Stop loss is the low of the green hourly candle (if it forms tomorrow).
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