HanishT

Strides Pharma

Long
NSE:STAR   STRIDES PHARMA SCI
Strides Pharma - Cmp 787.70

The stock looks good on weekly chart to go long. Keep it on radar for any reversal confirmation. 755-740 is a good support area . Possible targets 820/895/950.

Reason:
1. Hammer candlestick formation at the bottom of a downtrend.
2. Hidden bullish divergence wrt RSI .
3. Favorable risk reward as near support area .
Comment: 1st target done. Made high of 844 today.
Comment: This stock has performed yet as per expectations but our weekly support line at 756 is still intact.
Trade closed: stop reached

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