BIOCON: Paralell Channel BOYesterday Nifty was almost flat, traded in tight range and closed at around 19570, down by almost 26 points. One sector in this market is still shining even after a good rally in the past and that is NSE:CNXPHARMA
NSE:BIOCON One of the contituent of Pharma index with market cap of INR 32794 Crore and it also holds the weightage of 2.36% in Pharma Index, rallied to INR 273.15 or 4.50% yesterday and given a parellel channel Breakout. As the Parma index is also trading near all time high, so i am expecting the bullishness to continue in the pharma sector.
Now, going ahead one can can create a bullish postion at cmp of 273.15 or below with stop loss of 272 on DCB for the tragets of 280/288.
Exit the position if the stop loss is triggered on DCB.
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Disclaimer: Content shared is for information and education purposes only and should not be treated as investment or trading advice. Please do your own analysis or take independent professional financial advice before making any investments based on your own personal circumstances. Investment in securities are subject to market risks, please carry out your due diligence before investing. And last but not the least, past performance is not indicative of future returns.
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Bullish Flag & Pole B/o in UTIAMCGood Morning Friends,
A bullish flag and pole pattern emerged on the hourly chart of NSE:UTIAMC the bullish view will be negated if the stock closed below 756 on DCB. So as per the current probablity one take the trade at 786 or below with stoploss of 756 on DCB basis for the 1st target of 816 then 2nd target of 846 and the final target of 876.
Exit the position if the stop loss triggered on daily closing basis.
The risk reward ratio for the trade is 1:3
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Disclaimer: Content shared is for information and education purposes only and should not be treated as investment or trading advice. Please do your own analysis or take independent professional financial advice before making any investments based on your own personal circumstances. Investment in securities are subject to market risks, please carry out your due diligence before investing. And last but not the least, past performance is not indicative of future returns.
Happiest minds can make you happy!Happiest minds had given multibagger returns in 2021 and since then, it has been a correction phase in the stock.
Recently, the stock has bounced from a strong support and has given breakout from resistance trendline.
It is a good small cap IT stock with decent fundamentals looking strong for a bullish momentum.
Best buy level for the stock is around 875-880 with SL below 820 DCB and targets as 990, 1150, 1250.
This idea is shared for educational purposes and should not be taken as a recommendation.
Predictive analysis of TECHM in dcb.TECHM now Trading above 21 & 55 emas, successfully crossed 200 ema and retested now in dcb chart. As per drawn Fibonacci Extension, short term Target would be 1195-1205 and mid term target would be 1340-1370. Those mentioned zones are vital resistance zones also.
Disclaimer - this chart analysis is only for educational purpose. Do proper study before taking trade/invest or consult with your financial advisor.
Lemon Tree Hotel Daily TFThe stock has come out of one month's consolidation ( shown within light green colour channel)
with good volume.
After retesting horizontal resistance line ( black one ) 3-4 times
it has give a good break out today.
The stock has been moving within the orange channel since August 2022.
It can retest 96 before moving upto 108-110.
SL 87 DCB
Mota bhai-Inverse head and shoulderReliance could move towards 2800-3000 levels upon break of inverse head and shoulder pattern on daily time frame. This could correct for a few days to about 2550 levels but it should not close below that level.Nifty is at all time high and this has highest weight on the index so can correct for few days. If trades below 2550 on DCB then the trade should be closed.
Keep a close watch on the price action. Few stocks to lead next rally could be Reliance, HDFC Bank, Kotak Bank and some of the IT names.