Stride Pharma has been taking strong support around 756 - 757. The 200-day ema is placed at 754, the stock may bounce from this level and is possibly a good buy with a favourable risk-reward.
Please trade at your own risk
Excellent Opportunity to buy the stock. Strides revenues in Q4FY21 grew by 47% YoY to Rs.908 cr during the quarter with sales growth in the regulated markets and emerging markets.
I have entered around the 770 mark as Investment and plan to hold for long term
Chart study, not a call
Strides Pharma - Cmp 787.70
The stock looks good on weekly chart to go long. Keep it on radar for any reversal confirmation. 755-740 is a good support area. Possible targets 820/895/950.
1. Hammer candlestick formation at the bottom of a downtrend.
2. Hidden bullish divergence wrt RSI.
3. Favorable risk reward as near support area.
Since out previous analysis came out right here is STAR (Strides Pharma) in a wider time frame i.e. weekly frame. STAR is forming a double top on and is most likely to fall. What do you say?
The chart is a mixed combination of Break of Channel pattern + Support & Resistance + Rising Wedge pattern. A breakdown from wedge pattern with a good upper wick retesting green candle in 30Min + 15Min chart.
Risk: Reward is as high as 3.34
Aggressive traders can short now as I have with strict stop-loss. Risky trade !! "Risk hai tho ishq hai :P"