surajagarwal15743
Long

IPCA Labs - Go long

NSE:IPCALAB   IPCA LABORATORIES
- A comparison of its previous movement and predicted movement is provided here-in-below:

- The last trend started from 2nd week of October, 2018 which lasted till March, 2019; in which the stock gave as good as 66% return

- Note that from Oct to Jan, the stock was consolidating between the 50% and 61.8% retracement level.

- The current trend begins from Feb 2019 and likely to end in Feb 2020.

- Drawing an analogy from the previous trend and holding that the stock has consolidated between 50% & 61.8% of the possible target, the target converges with its all time resistance line at Rs - 1230

- The possible return comes to around 66%

Technical Aspect

- RSI is about to enter 65+ levels
- MACD is highly positive

Comments

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