IPCA LABORATORIES - RETEST OF SUPPORT BREAKDOWN
Symbol - IPCALAB
Ipca Laboratories has recently experienced notable price movements, trading near resistance levels after a good pullback from lower levels. Currently, the stock is trading near major resistance zone, which follows a period of strong recovery from its earlier lows. However, the trend appears bearish, and the sentiment is negative. This increases the likelihood of a sell-off from the ₹1500-₹1540 resistance zone, where the stock may face significant selling pressure.
Despite the recent price recovery, the stock is encountering selling pressure near these resistance levels, reflecting a similar trend seen in many healthcare stocks due to changing investor sentiments. As with other pharmaceutical companies, the stock could face volatility due to external factors such as regulatory updates, changes in pricing strategies, or new competition in the market.
Despite short-term fluctuations, the stock remains resilient due to strong fundamentals and an ongoing focus on key therapeutic segments. However, the short-term outlook might face a correction. This could trigger a move towards lower levels, but long-term growth remains intact based on strong earnings prospects and solid market positioning.
Key Resistance levels: ₹1500, ₹1540, ₹1548
Key Support levels: ₹1460, ₹1434, ₹1400
There are no signs of a significant trend reversal, and growth could resume from lower levels should the stock maintain its strong performance fundamentals.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Ipca Laboratories has recently experienced notable price movements, trading near resistance levels after a good pullback from lower levels. Currently, the stock is trading near major resistance zone, which follows a period of strong recovery from its earlier lows. However, the trend appears bearish, and the sentiment is negative. This increases the likelihood of a sell-off from the ₹1500-₹1540 resistance zone, where the stock may face significant selling pressure.
Despite the recent price recovery, the stock is encountering selling pressure near these resistance levels, reflecting a similar trend seen in many healthcare stocks due to changing investor sentiments. As with other pharmaceutical companies, the stock could face volatility due to external factors such as regulatory updates, changes in pricing strategies, or new competition in the market.
Despite short-term fluctuations, the stock remains resilient due to strong fundamentals and an ongoing focus on key therapeutic segments. However, the short-term outlook might face a correction. This could trigger a move towards lower levels, but long-term growth remains intact based on strong earnings prospects and solid market positioning.
Key Resistance levels: ₹1500, ₹1540, ₹1548
Key Support levels: ₹1460, ₹1434, ₹1400
There are no signs of a significant trend reversal, and growth could resume from lower levels should the stock maintain its strong performance fundamentals.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Trade active
CMP 1505
Short position order triggered.
Note
CMP 1460
Future short position 45 rupees (3%) in profit.
Holding with CTC SL.
Note
Added more position at 1530
Now holding with CTC SL placed at 1517
Trade closed: target reached
Target 1 reached.
-5.20% from my short level.
Note
CMP 1410
Now down -107 rupees or -7% from my short level.
Disclaimer
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