Hi traders,
Time Frame 15min and 30min for intraday.
Current trend is bullish, price and already broke the cloud and trading above the cloud further uptrend is above fib level 0.618 so plan your trade as per current level or do paper trade for more learning.
Thanks for reading my analysis
Lupin broke the resistance on 14 Aug with big green candle. Following days, after retesting the bottom of channel, it started its move up, might test the top of the channel which may coincide with the next resistance near 1070.
I am no expert, if someone maybe a learner like me or an expert have different opinion, ll be glad to see that view.
WE LEARN TOGETHER WE...
Pharma stocks have been corrected from their highs.
Auropharma has given a breakout from the trend line with high volume.
Macd is also giving a signal for reversal.
Buy @ 821-825
Target I - 887
Target II - 961
M had a tremendous move till 2016. Went into a downtrend therefrom till 2019. Trendline broken. Bullish bias restored
W has a Rounding Bottom and three HH and HL. Can be bought as per levels mentioned in chart.
Third of third wave has been completed. The stock is ready to give upside rally again after the 4th of 3rd wave completion that can lead the stock to travel into four digits price territory.
Glenmark is forming cup and handle pattern at daily time frame. You can go for long after the handle breakout with good volumes at daily time frame.
And don't forget to like the idea.
Follow
As we have seen some pressure in both the major indices we noiced that Cadila was earlier facing resistance and now again after testing its resistance zone yesterday it reversed from its selling zones. so we can see some more selling pressure in this scrip..
LOOK OUT FOR A BREAKOUT IN SUNPHARMA AS WELL AS DR REDDY AS THEY ARE NR7 CANDIDATE. THEY HAVE BEEN CONSOLIDATING FOR THE PAST 3 DAYS.
Beware : Please keep in mind and stay away from False Breakout Traps.
Also this is not any recommendation, it is only for educational purpose.
Trade at your own risk.
Thank you
Have a Nice day!!
