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Has HDFCAMC bottomed out?HDFC AMC has been in continuous downtrend from late 2019. As we can see on the chart, the stock has recently bounced from a support level with good volumes. The most interesting observation is a positive divergence in RSI during the bounce which might be an indication that stock has bottomed. On Friday, good buying with high volumes has been observed with a bullish candle, almost a marubozu. This stock has an immediate resistance at 1950 so it is better to buy the stock at around 1800-1810 levels for a better risk reward. Kindly trade as per your own analysis. This idea is shared for educational purposes.
NSE:HDFCAMCLong
by chartistamey
1
Natco Pharma- A beautiful pattern mirroring!This will remain as one of my most favourite idea if breakout goes successful. Trade logic: An inverted head and shoulder breakout is on the cards. The most exciting and unique observation from this chart is that a similar IHNS breakout happened in 2021. But the breakout failed. However, the stock again has created an inverted head and shoulder pattern with the same neckline in a much lesser time compared to previous pattern. (4 years then vs 2.5 years now) Stock has cranked up its volume getting ready for a good breakout. Confirmation above 920. I wont be surprised if this stock breaches ATH levels if the breakout is successful. A good pharma stock from investment perspective as well. Keep in watchlist. Do like, comment and follow for such more ideas!
NSE:NATCOPHARMLong
by chartistamey
1
BIOCON - retesting its breakoutBIOCON has consolidated for over 3 years and has spent last 1 year in making a base. This base formation has resulted in Cup & Handle pattern. After breaking out from C&H pattern is has come back to test its breakout level. Recent volumes in BIOCON has also been commendable. Wait for the stock to show rebound above the breakout level before entering into it. CMP 280 Breakout level 278 Target 340 SL 264 Retesting of breakout makes the breakout stronger. Note: It's weekly chart analysis. Don't think short term based on this analysis. Remember: SLs are essentials. Disclaimer: I'm not a registered analyst. I'm just sharing my opinion on the platform for others to benefit in learning from my market understanding. Please do your due diligence before making a trade.
NSE:BIOCONLong
by anuragcoma15
Bullish Breakout in SunPharmaAmid today's 333 points Nifty Selloff, the only Nifty stock gave a bullish engulfing breakout is NSE:SUNPHARMA . Multi timeframe analysis gives various aspect to be bullish for at least 1:1 Risk-to-Reward target: In W chart, it's a clear breakout of a rounding bottom patten created over last 8 years (since 2015). During this course it breaks out convincingly the last all-time-high of 1200 around 2015 Q1. In D chart, it is trading in a nice up trend channel. Today's candle near-beakout of the upward channel's upper band. Very high volume in Daily chart And today's candle is an overwhelmingly convincing Bullish engulf patten. Trade: BUY above 1405 for a 1500+ target. Keep a SL of 1310 (closing basis).
NSE:SUNPHARMALong
by pradipandsuvra