IPCA lab looking weak but current Risk Reward isn't great, let price come around 687 to take a short position. Risky traders can sell if it sustains below 670 for the marked target.
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IPCALAB : NSE:IPCALAB
Clear Bounce from strong support and trying to break trendline.
Also from Futures perspective - clearly price crossed the previous month's series VWAP and the current Series VWAP.
If the current momentum us sustained and takeoff 875 - we should see a super move.
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After immense selling pressure and lots of accumulation, IPCA lab is ready for a Bull run. It has formed a triangle breakout pattern on 30 min time frame and +.
Buying Area - 2200 And below
Target - 2400, 2400+
Checkpoint - Selling Zone/Reversal zone
This analysis is done only for educational & intelligence purposes, invest or trade at your own risk.