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...
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.
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
NSE:TORNTPHARM
Observations:
1) On 1day time frame, it is trading between 200DMA and 400DMA.
200DMA will be immediate resistance and 400DMA will be major support.
Please refer below chart : 1 day Time Frame.
2) On 1 day time frame we can see level 2800 is immediate resistance and 2700 level is major support.
Breakout of 2800 will give a good up move....
![TORNTPHARM: Simple Trade Setup | TORRENT PHARMA | 23-11-2021 [ INTRADAY]](https://s3.tradingview.com/3/39bv94hv_mid.png "Simple Trade Setup | TORRENT PHARMA | 23-11-2021 [ INTRADAY]")
