scorpiomanoj
Long

SUVEN LIFE SCIENCES - MOMENTUM PICKING UP

NSE:SUVEN   SUVEN LIFE SCIENCE
Suven             Life Sciences
Investment Horizon - 6 months plus
CMP 239

Top Down Approach - a) Monthly Chart b) Weekly Chart c) Daily chart .

a) Higher Time frame chart - Monthly (Ascertaining the big picture)
1) Above 30 period EMA .
2) Cup formation in progress and the first HH is seen suggesting early stages of the uptrend has started.
3) Breakout observed past the downward sloping resistance line with good volumes; RS             is sloping upwards (however, has not crossed 30 ema ; very closely placed; so ideally should be a watchlist until this happens); MACD has emerged positive with rising histogram. ( RS             is not there in tradingview. It is Relative Strength with respect to Main Index which is nifty             . Can be found in few other softwares like Amibroker).
3) Hence bias should be only LONG in this stock. So next step is to ascertain the right time to enter.

b) Middle Time frame chart - Weekly (Ascertaining the current sentiments and the right time to enter)
1) Price has crossed the horizontal resistance zone more recently with good volumes.
2) RS             crosses 30 week ema .
3) MACD histogram rising.
4) Hence recent sentiments are positive which could possibly fuel the momentum to the stock.

c) Lower Time frame chart - Daily (Entry zone).
1) Stoch and MACD favours entry at cmp . (For a medium to long term holding, entry can be done in the middle time frame chart too.).

Stop at 180 (a tad below 30 week ema in weekly chart).
Target 340
Trading is my passion.
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out