Biocon again approaching stiff resistance

16 Des 2020

Couple of things I would want to highlight here:

• The stock has face resistance multiple times at the indicated trend-line
  
• The times that it did manage to break it, the move was not decisive enough and I am certain that a lot of stop losses would have got triggered.
  
• It could be interesting to see if it is broken this time. But I would suggest to not trade the breakout. Rather, wait for a good confirmation to enter the trade. Just my thought process to avoid SL hits.
  

Like and follow.

BIOCON