Makes sense to me...been falling a lot, slowing losing strength.
As such, not a bad stock, makes it worthy of being bought after such a dip.
Its also at an investment level, but I am unable to generate longer duration view so will aim to trade just the chart for now and rethink if it gets into significant profits.
*NOT AN IMMEDIATE BUY, entry level is mentioned...
It seems bottom is forming. How ? Last week volume was around 2.59 M and stock was down 6% and in current week volume is more than last week and stock is down 1/3rd. What it means ? Someone is buying at lower level.
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TECHNICAL ANALYSIS OF NSE:IPCALAB
The LAST CLOSE PRICE of NSE: IPCALAB is 2176.25. The PARABOLIC SAR is showing the UPWARD SIGNAL with TREND as UPTREND . The FIBONACCI LEVELS analysis shows that the CLOSEST FIBONACCI LEVELS is 0.618 at the FIBONACCI STOCK PRICE LEVEL of 2205. From here, the Key Support and Resistance levels are SUPPORT 1 at 250.07,...
Ipca Labs has moved out of a 9 month long consolidation/decline as shown by the chart.
Ipca Labs can be bought here as a medium term trade/investment.
Targets : 2450 (prior high) and higher (open target since stock will be in new territory)
Stop Loss: 2085 WCB (3 week closing low is 2089). A deeper but more logical SL is 2045 WCB.
I will buy IPCALAB because :
It has been taking support at the trend line .
It us also forming a rectangle pattern
So will be looking at buying opportunities.
If it breaks the support look at shorting
Entry : 1849
Target : 2061/2276/2420
Stop loss : 1722
Buy IPCALABS for going long on Swing and Intraday also. Levels mentioned in the chart. Huge support of RSI Divergence and also consolidation. Buy only above the mentioned levels triggered. Happy trading😊
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns...
3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
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.
