BIOCON LTD Breakout Retracement
This stock already breakout. But now we have option to invest on this stock. The price will take retrace at 288 zone.
Why retrace will happen?
Before breakout 288.35 is a resistance zone. When price break that level and making high then bear have to exit his position. when bear exit there position then a fall we can see. and the resistance became support. In this way market work.
Why retrace will happen?
Before breakout 288.35 is a resistance zone. When price break that level and making high then bear have to exit his position. when bear exit there position then a fall we can see. and the resistance became support. In this way market work.
Ask me anything I am happy to help you.
To motivate us, Please like the idea If you agree with the analysis.
Thanks & regards,
Kaustav Hazra
To motivate us, Please like the idea If you agree with the analysis.
Thanks & regards,
Kaustav Hazra
Penafian
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