Stock: Wockhardt Pharma
Setup : Closing above month high after downtrend and sideways movement. (Quick Bounce)
Entry : 460-480
Stoploss - 440
Target 1 - 520
Target 2 - 580
Time Frame - This is positional trade idea for 3 to 6 months and is a high risk trade.
Risk: Wockhardt Pharma is currently reporting losses since last two quarters and prior to that was...
Wock Pharma Trendine Break with good volume and making Higher highs in 30 min Time frame
Buy Above : 580 (Or) if it comes for retest then Buy @ 562 levels
SL : 555
*Always Enter With good confirmation & Maintain proper Risk Reward.
******* Knowledge Purpose only ********
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Cmp - 561
Stop - 450 on DCB
T1 - 2200
T2 - 5000, Review at 2200
Expected Holding Period - 360 trading days or earlier for T1
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
Stock has broken the Trendline mentioned in chart and has been generating very high volumes in recent weeks. Looks good for more upside above resistance zone.
If breaks 695 convincingly then 750-800 levels can be seen soon.
P.S. Safe traders can wait for a pullback after break out !!
Wockhardt has given Flag Pattern breakout on the weekly chart. The delivery volume also confirms the same. RSI also moved up from the oversold zone on the weekly chart. MACD crossover on the chart shall move price action further.