Gland Pharma Cmp 1307 dated 7-2-2023 BOTTOM OUT Gland Pharma Cmp 1307 dated 7-2-2023
1. Bullish & Reversal Candle @ Bottom of the chart
2. Price Rise With Volume Rise
3. RSI BO
4. Debt Free Company
5. 86 % of holding with Promoter's, FII's & DII's.
Buy @ CMP for target 1380-1450-1600-1770
SL 1160
Disclaimer :
I am not a SEBI registered Analyst so please do your own Analysis before taking any action.
The above view is shared just for educational purpose.
By no means shall be responsible for any losses amounting out of it incase if any trades on it.
It is just a view, please trade at your own risk.
GLAND trade ideas
Today the "Rounding bottom" pattern has failed decisively.After a huge sell of 13% in Gland pharma (NSE) , it got into a combination of beautiful pattern of symmetrical triangle and rounding bottom pattern ,after a considerable side way movement , it suddenly breakout with good volumes , sustained and moved up but suddenly at a resistance level of 1921, it bounced back
decisively , converting a good uptrend into a quick downtrend, also the beautiful rounding pattern failed. Now the stock is 15% below it's previous day close. Let's see what happens tomorrow. Happy Trading friends.
Short term delivery Buy Gland PharmaShort term delivery Buy Gland Pharma iF TODAY CLOSED ABOVE 3235
ENTRY, STOP LOSS (SL), AND TARGET GIVEN IN CHARTS.
(TIME 1 OR 2 WEEKS).
Note : This is only for Educational purpose this is not for an trading advice.
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Orange Fox Calls
Swing Opportunity in Gland PharmaGo Long above 3450.1 for Targets of 3633.7, and 3817.3 with SL 3266.5
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.382 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.382 Fibonacci level.
3. Also a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.382 Fibonacci level.
4. Also there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
5. There is a trendline (marked with red color), which is providing resistance to the stock so we have placed our final target just below it.
Double bottom and now getting ready for a trendline breakoutGland Pharma is looking good after a double bottom on previous support
1. Risky traders can buy now with a stop loss of 3500 on closing basis
2. Safe traders wait for a close above 3770 on closing basis
Disclaimer: For learning purposes only