Starpharma
Trying to forget downtrendChart -> Strides Pharma Daily
After a brief downtrend, the stock is trying to create a base with a triangle formation breakout and volume.
CMP: 345
Targets: 389, 414
Good range: Around 333
SL: 310 Daily close
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
Strides Pharma (Star Pharma) - Bullish Structure Intact
Strides Pharma has consolidated horizontally since May'2018 to August 2020. (nearly 15 months)
It has given a breakout in August 2020 and since then sustaining the price above the previous consolidation area.
Recently it tested 594 and made a Wolf Wove Analysis Pattern where clear entry was made at 602. (please refer this pattern in chart below in comment)
It looks like stock is completing its Pullback structure of recent breakout move.
If price sustains, it can be a good pick for positional buy trade. Those who bought at 602 (on Wolf Wave Analysis) may remain in trade.