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.
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