Is Biocon nearing bottom for medium term ?

Weekly Chart

• After making a high of 550 in July 2014, Biocon has been under performer since then.
• Since completion of Wave 3 in Primary degree, stock has been in zig-zag corrective nature in the form of Wave 4 on weekly charts
• Wave 4 is in the process of completion near _ _ _ levels. But still confirmation is required with favorable Risk/Reward for trade setup.
• The shorter time from counts with other tools is required to confirm the reversal of trend.

Raju V Angadi

Equity Research Analyst

To Learn simplified objective approach applying basic concepts of Elliot Wave Theory in conjunction with Dow Theory & Psychological traits to trade with some common sense to optimize your investment and trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900