finvestar

#LONG for Long Term on VENUS REMEDIES

Long
finvestar Updated   
NSE:VENUSREM   VENUS REMEDIES LTD

  • Venus Remedies reached an ATH of 639 on 9th Aug '21and then corrected by approximately 77% to reach a low of 145.80 on 22nd Feb'23. In the month of Feb'23, the scrip took support on the base and has resumed uptrend, forming a triangle pattern in the process.

  • On 30th May'23, the scrip opened with a very large gap-up ad gained 20% in a day. On the following day its succesfully broke out of the triangle pattern reaching a high of 264. It then corrected for a week before resuming it uptrend again.

  • Yesterday, it opened with a small gap-up and has risen by 4.99%. Targets '1' & '2' seem achievable in 3 - 9 months.

  • Potential upside: 79% (Medium Term)

  • Long Term Target: 688 (139% return potential)

  • Stop Loss: 264(daily closing basis).
Comment:
Stop Loss may be lowered to 211 for fresh entry based on risk appetite.
Comment:
Target 1 achieved on Muhurat trading day!!
Comment:
Next entry only when day closing is above 350

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