Biocon
CMP 202
It is at an important level.
RSI on monthly chart is near 29 …that is an oversold zone ( but stocks can remain in this zone for long period and can keep sliding.)
Also there has been hige selling by big hands in last 2 months- big red candles.
For any upside move, now 212 can act as a resistance…big hands need to move in and need to buy huge volume to take this stock up.
Otherwise , it can keep moving in a range of 150-215 for a long period.
Monthly Chart
Disclaimer : This post is just a for learning few methods of price-patterns. Views are personal and are purely based on our limited knowledge of charts. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors
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