BIOCON
- BIOCON facing golden ratio support at current levels @ 470, chart indicates once BIOCON closes and stays below then further weakness is expecting.
- Suggested Article - Golden trading rules in stock market.
- Chart also indicates stock currently finding trend line support and 200 DMA , as long as stock holds above bulls will be favored, but once it starts trading below then we can see some weakness.
- Even stock major trend indicator "MACD" is moving in -ve this indicates further price fall can be seen in coming days. Moreover stock has formed head and shoulder pattern formation, but failed to make bullish breakout and now facing neckline support @ 470. If closes below neckline then weakness expecting in coming days.