I am back after a long relaxing rejuvenating vacation. :-) :-)
Based on my PredictiveSystem's signals, today (07-May) its going to be a RED candle for NSE:WOCKPHARMA
Sell below: 800
Stop loss: 808.2
Note: These calls are based on my own analysis. It may or may not work well for you. So please carefully consider...
As we can see that prices were in corrective mode since long time and it has been rising since couple of weeks. On weekly charts prices has tested the lower band of triangle and started recovering from bottom. Rsi Divergence also suggest that there is strength in Market and looks good on bottom of the chart. I do expect that if someone want to accumulate they can...
It seems that stock has been good accumulated formed triple bottoms and now wants to rise. It has closed above the neckline giving the breakout and successfully retested it. One can buy the stock for a target of 750 - 775.
WOCKPHARMA, We got crossover confirmation in buying zone, even though a beautiful triangle and looks soon to be breakout with heavy volume, once it break and sustain and close above or near to 622-625 range, we can buy for short term or long term period for target 650 - 655 range & 700 range.
Long Trendline (like china wall) on Wockpharma, if the price will move up once the china wall broken. Oops not china wall, Its long run trendline.
Buy above - 622
Target 1 - 645
Target 2 - 672
Target 3 - 697
Stop Loss - 596
- The index level retraced to the 20 day SMA
- Even though there is a little further to go for 61.8 % Fib level, hanging man pattern is clearly visible on the chart
- Looks like a reasonable risk/reward play on the short side considering above two factors
- Sunpharma, Auropharma, Biocon, Wockpharma etc seem like a good bet