Will Biocon break the support zone this time ?
Yes It broke the support levels on very day on 30th April.
What's next now ?
Below is the weekly chart of Biocon, 2 support on downside are listed. With a high probability of 1st one giving way, only because of the kind of consolidation breakdown the stock is giving this time.
There are many questions to be asked here:
1) Why the stock gave a breakdown this time and not on previous instances.
2) What were the indications that i saw that its likely to give a down move this time
3) Why i think that the probability of 1st support giving way is high ?
Connect with me with your views on the above questions and I will share my answers to these in reply to you.
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