The stock on a monthly timeframe have retraced to 23.6% and is now showing strength in the recent past.
On a weekly timeframe it was consolidating in a very narrow range in the last 6 months and finally breaking out few weeks back with good volume support.
541-559 is the supply zone and it had close this week inside this zone. It should either consolidate a week...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
Suven Pharma #SUVENPHAR looks to be a eligible counter for breakout above 500
The counter has been in the 450 -500 range for a while now , any sustainable breakout above 500 with good volumes should take it to new levels ,
SImilarly any drop from the 450 range the stock should be avoided for longs
Note : This article is for education and research purpose...
