TORRENT PHARMACEUTICALS LTD. (TORPHARM) View: Bullish on confirmed breakout.
Bias: Positive momentum building.
Strategy:
BUY: Above ₹3600 (on weekly closing basis with strong volume confirmation).
Targets (T):
T1: ₹3750
T2: ₹3950+
Stop-Loss (SL): ₹3400 (on weekly closing basis).
Reasoning:
Strong support at ₹3000-₹3050.
Challenging multi-month descending trendline resistance.
Positive RSI divergence and increasing volume.
Potential for a significant trend reversal if breakout is confirmed.
