Torrent Pharma Bearish PennantTorrentpharma has is showing bearish signs and weakness on upside, if not going short.. then atleast dont go long in torrent pharma
Torrentpharmalevels
BUY TORRENT PHARMA @ 3280 - 3250Torrent 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
Simple Trade Setup | TORRENT PHARMA | 23-11-2021 [ INTRADAY]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. If it takes support from 2700 then there is a chance to bounce back.
But if it gives breakdown of 2700 then it will be much bearish.
Please refer below chart : 1 day Time Frame.
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Trade Setup for Date: 23-11-2021
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
