CASE 1:
On the weekly charts of torrent pharma, it is seen that CMP is at a very crucial level (the purple zone). This zone is a good resistance zone. Also, if you look closely, CMP is also trading at an important Fibonacci Level. This too shows that price may come down from this point or may obey the purple zone and may fall after touching the upper range of the purple zone!
CASE 2:
Looking at the other possibilities, the stock may break from the Fibonacci level and also from the upper range of the purple zone (maybe in next couple of days). This will be a sign of extreme bullishness and one may look for buying opportunities here. There MAY be a retracement till the point of 2890-2908.
Now, if case 1 happens, a downfall till the level of 2800 is expected, and if case 2 happens an upside till the level of 3278-3280 (obeying the white path shown).
I would recommend taking decision on the basis of 'Case' we see next week.
FOLLOW IF YOU LIKE THE ANALYSIS
LIKE AND COMMENT WHAT YOU THINK ABOUT THIS!!
THANKS
On the weekly charts of torrent pharma, it is seen that CMP is at a very crucial level (the purple zone). This zone is a good resistance zone. Also, if you look closely, CMP is also trading at an important Fibonacci Level. This too shows that price may come down from this point or may obey the purple zone and may fall after touching the upper range of the purple zone!
CASE 2:
Looking at the other possibilities, the stock may break from the Fibonacci level and also from the upper range of the purple zone (maybe in next couple of days). This will be a sign of extreme bullishness and one may look for buying opportunities here. There MAY be a retracement till the point of 2890-2908.
Now, if case 1 happens, a downfall till the level of 2800 is expected, and if case 2 happens an upside till the level of 3278-3280 (obeying the white path shown).
I would recommend taking decision on the basis of 'Case' we see next week.
FOLLOW IF YOU LIKE THE ANALYSIS
LIKE AND COMMENT WHAT YOU THINK ABOUT THIS!!
THANKS
Trade active:
Case 2 is active. Buy torrent pharma at cmp