IPCA LABS - Shorts below 1550 you may think of buying a put option or selling futures if IPCA labs closes below 1550 levels and then you can thank me later by boosting, liking and sharing the post.
One of the first modern pharma factory of yesteryears was commissioned by Ipca at Mumbai in 1969. The company was originally promoted by a group of medical professionals and businessmen and was incorporated as 'The Indian Pharmaceutical Combine Association Limited. ' in October 1949.
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Ipcalabview
IPCA Lab Broke Out !!📈 IPCA Lab 📉
IPCA Lab broke out from a downtrending trendline zone after testing three times. Yes it has closed at high of Fab and March too.
So I am biased on long side.
On Buy Side I am looking for initial Targets of 1100, 1139, 1211 and 1318.
StopLoss should be kept at 965.
It offers 1 : 2.5 Risk Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.