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Abbott India: 28% Upside in few weeks (Read below)1. Abbott India has posted strong Q4 numbers signalling a good quarter for Pharma sector overall 2. The Nifty Pharma Index has shown a bounce back from 18400 levels today with potential to rally to 19200 or beyond to 20000 if other companies post strong results too in the coming days 3. Nifty 50 bounced back from 22000 levels too today 4. If both Nifty and Pharma Sector continues the rally, then Abbott is sure to achieve its target in coming days (rather quickly) Technicals: 1. Abbott has created a rounding bottom pattern with neckline at 28500 and base at 25500. The target comes at 33500 based on the pattern. This gives an upside of about 28% from current price 2. The price have been rejected multiple times by the blue trendline. Watch for a clear break above this trendline (around 26400 levels). A strong close above this line will indicate a bullish move going forward 3. The price is above the 200D SMA (purple line) but below the 50D SMA (orange line) 4. Currently the price has broken above the 20D SMA although got rejected by the upper Bollinger band (green line and blue bands) during intraday hours Strategy: 1. Look for a clear closing above the trendline with strong volumes in next trading sessions 2. Look for rally in both Nifty and Pharma sector 3. If all parameters match, take entry around 26400-26500 levels with stop loss around 25350
NSE:ABBOTINDIALong
by tej_s9
SWING IDEA - JKLAKSHMI CEMENTJK Lakshmi Cement , a key player in the cement industry, is currently exhibiting compelling signals that shouldn't be overlooked. In conclusion, stock's technical landscape is painting a promising picture for prospective investors. Reasons are listed below : The stock has undergone multiple tests at the critical 890 levels, showcasing resilience and now displaying a promising attempt to break through. Over the past 7 weeks, stock has demonstrated robust consolidation at its all-time high, indicating a solid foundation for potential upward movement. A clear bullish trend is evident as the stock continues to establish higher highs, signifying positive momentum and growing investor confidence. The stock is currently trading above both the 50-day and 200-day EMAs, affirming the continuity of the prevailing uptrend. Target - 1069 // 1158 Stoploss - weekly close below 819
NSE:JKLAKSHMILong
by Visionary_Growth_Insights
2
SWING IDEA - YES BANKYes Bank stock presents a compelling opportunity for a swing trade, supported by strong technical indicators: Reasons are listed below : Multiple tests at the 21 levels culminated in a decisive breakout. A significant marubozu candle on the weekly timeframe signals bullish momentum. The breakout was accompanied by a notable increase in trading volumes. Ongoing formation of higher highs indicates a sustained upward trend. Positive positioning, as the price is trading above both the 50 and 200-day Exponential Moving Averages (EMA), reflecting momentum strength. Target - 30 // 49 StopLoss - weekly close below 20.85 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:YESBANKLong
by Visionary_Growth_Insights
2