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sankatradesindia

Biocon again approaching stiff resistance

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BHARAT PETROL CORP (NSE:BPCL)  
sankatradesindia  
NSE:BPCL   BHARAT PETROL CORP
Trend Analysis Chart Patterns Technical Indicators BIOCON
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trendanalysis chartpattern indicator biocon
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.

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BIOCON
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