EMCURE PHARMA ANALYSISTHIS IS MY CHART OF THE WEEK PICK
FOR LEARNING PURPOSE
EMCURE PHARMA- The current price of EMCURE is 1540.60 rupees
I am going to buy this stock because of the reasons as follows-
1. It has given a breakout of last 15 months resistance with some good volume and looks great.
2. This stock has seen some great buying in last few months. After IPO, it went down but later it recovered.
This stock has been in my watchlist from last few weeks.
3. It is showing better relative strength as it stood strong in volatile times including last few weeks.
4. The risk and reward is favourable.
5. The stock is one of the outperformers in this market. The structure is great as of now. It has also outperformed it's sector in very short term but it was more of a lagging stock in last 1 year and probably it will show better strength in coming days.
6. Another good part- The overall sector has shown some decent strength and have good momentum.
Also, Mutual Funds and FIIs have increased their stake in last Q.
I am expecting more from this in coming weeks.
I will buy it with minimum target of 35-40% and then will trail after that.
My SL is at 1352.45 rupees.
I will be managing my risk.
Long
