On 4 hrly chart, the level of 1909 had been a support zone in the last two months,
There is a breakdown with good volume and a strong breakdown candle .
Tgt and sl are marked on chart
Breakout on Torrent Pharma
On daily chart most of the candle body is above the resistance line (yellow line)
Stochastic crossing into OB zone indicating good momentum
Volume on the bullish leg is higher than that during consolidation
tgt and sl are marked on the chart
NSE:TORNTPHARM CMP 1489, Target 1350, Time frame march 2023. Expecting the Torrent pharma to trade at the levels of 500 by march 2023. Based on the continuous downtrend for the last 3 consecutive months , and expecting to touch the lower end of the Bollinger band . Expecting the target to hit within next 1month . One can trade sell futures at CMP or buy put...
NSE:TORNTPHARM
All Time High Breakout
W Pattern Breakout
Price moving up in Rising Channel
Targets : 1890 - 2030 - 2250
Upside : 35%
SL : 1550
Time Frame : 3-6 Months
RSI in Bullish Zone & Weekly EMAs acting as Support
torrent pharma crossed big resistance
52 week high today
keep on radar for entry with risk reward in favor
Weekly Positive RSI 70+
last two days Spurt in volume too
Expecting big move onwards
There is a possibility of a swing trade on TorrentPharma, it is forming a double bottom (also an inverted head and shoulder). You go long after a good breakout of 2940. Set Stop-loss logically. Suggested targets: Target1 3040 & Target2 3085.
NSE:TORNTPHARM
#NSE:TORNTPHARM open with gap up and with a small pull back given good bullish mometum.
Resistance levels for the day marked for referrance.
Happy LEarning !!
NSE:ASIANPAINT
#ASIANPAINT JUN 3000 PE given @ 118 and reached to 317 today and bagged 30K appx per lot.
Further levels marked for practice.
Check out the other levels shared, feel good about our analysis, pls leave your feedback.
Happy LEarning !!
TRADING STRATEGY: Sell on rise keeping SL of 3230 and look for the target of 2530/2350 in coming weeks.
Theory:
DIAGONAL:
Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4...
Torrent Pharma has given the broken the previous high and looking good to test upper marked levels on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Hello traders, in this week what I can see is that the pharma sector is looking quiet bullish to me and I expect it to give good good results, this might also be a push from the omicron news.
torntpharm has broken it's all time high and has given a strong closing above it and still shows signs of bullishness, it means the entry can be taken at current levels or...
