Solara Active cmp 786.50 by Weekly Chart views since listing day*Solara Active cmp 786.50 by Weekly Chart views since listing day*
- Support Zone 640 to 670 Price Band
- Price is hovering well above the EMA 21 > 50 > 100 > 200
- Stock traded in a price range of 300 to 520 for close to 2+ years
- Weekly basis Support at 690 > 585 > 480 with Resistance at 890 > 1025 > 1135
- Bullish Rounding Bottom done of 2+ years timeframe with neckline at Support Zone
- Price Breakout has sustained well above the Falling Resistance Trendline and Support Zone
Solaractivepharma
Potential Cash Swing Trade - SolaraSolara is a Small Cap company and has been under performing since a long time. After a sharp decline since 2021 it went in range in weekly TF for almost 2 years. Stock has given a breakout of the range on Friday with good volume and a range shift in RSI.
One can look to build a long position above 500 with 390 as risk for a potential target of 1062. RR looks good here but asset allocation must be less, 5% as its a small cap company which has been worst for investors till now.
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I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
Solara-A risky reversal trade for multibagger returns!Solara is a loss making pharma company which has been consolidating in a tight range from last couple of years.
If stock sustains above 500, we might see quick movement like the one we saw in Wockhardt & SPARC.
Company doesn't have good fundamentals, so keep it as a trading position and less amount if you want to.
SOLARA ACTIVE PHARMA - Bullish Momentum with VolumesNSE: SOLARA is closing with a bullish momentum candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 9% to 15% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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