The script takes support on the channel line beautifully. Good to enter now for decent profits. A breakout from the channel can be expected soon. Happy trading.
Pharma stocks look good!
Sunpharma is continously in uptrend and had given a breakout after a good consolidation. Stock has tested its resistance and got a bounce back from that zone. Here is the reason why we can take a entry here:-
1.RSI is above 60 in both weekly and daily chart, which shows strong momentum.
2.Stock is out performing both NIFTY and PHARMA index.
3.Price taking support...
TRADING WATCHLIST FOR W/B 4-10-21
INTENT
I will only be sharing the time frame and the scrip name. I will leave the trade basis aside as the intent is to engage the reader in learning the basics of finding good scrips. You can have a look at the charts and place your favorite indicators and check out if any of these fit your trade plan.
ON MY WATCHLIST FOR W/B...
After the downfall of more than 15% in DR . Reddy , it started to recover. Now it gave a Fresh Breakout from the Trendline. Also Pharma sector too looks good for going long.
Sun pharma has given breakout with good intensity of volume, and recently pulled back in wave 2, now wave 3 circle is going on and within that, wave I and II are completed recently and wave III has started, all the key levels are mentioned on chart, one can go long at current levels or in dips ( if any ) with stoploss of 750 for targets of 900 - 925 levels....
Huge upside potential in this stock. It has consolidated well and taken support at 752/753.
Can go long at current level with stop loss around 745. Target on the upside could be 770 and if 770 is taken out 790
Glenmark pharma preparing for breakout. Lower high lower low formation broken. Formed double bottom at support zone. About to breakout double bottom patter.
LOGIC,LEVEL AND TARGET WELL MENTIONED IN THE CHART
NOTE -The above interpretation from the chart is my personal view and doesn't guarantee any success.
(Do talk to your financial advisor before making any investment decisions)
please like, share and comment if you have any suggestion regarding this analysis
CADILAHC HEALTHCARE SEEMS VERY BULLISH FROM HERE.
1) Near multi-year support of June 2017.
2) Good risk-reward ratio.
3) Support Re-testing.
4) BUY from current levels with Sl 550 on a closing basis.
5) Positional view for the first target of 600 if crossing above this levels........ hold for 660/700 levels.
6) RSI divergence on the daily chart.
7) CUP pattern...
