INDOCO trade ideas
indoco daily chart , moving in a channelnow near trendlline sup,expecting 530 trgt positional cmp 483
indigo remedies BSE = bullish NSE:INDOCO
it is on the moving average 44 and also showing W pattern both are indicates bullishness
Expecting Breakout ✌✌This scrip is expected to give breakout as it is on the verge of breakout. So traders keep on your radar to catch the momentum. Thanks to all 🙏🙏🙏
INDOCO remedies has tendancy to bounce from 50 DMAI see repeat pattern of INDOCO remedies bouncing from 50 DMA which is offering good risk to reward
Buy around CMP 451 with SL @ 430 daily closing basis
This is swing trade, no need to hold position for atleast 2 weeks
Do your own analysis before investing
INDOCO REMEDIES - Medium Term StudyChart Structure:
- Broken out All-Time High (of 2015), pulled back, consolidated a bit, and now ready to go up.
- Price in an uptrend since July 2020.
Volume:
- High volume deliveries this week. Up to 12.41 lac shares were delivered yesterday, whereas average deliveries are 1.23 lacs.
- Yesterday saw the highest delivery of shares in recent times.
Relative Strength:
- Stock become RS+ on 19th April and continuously outperforming Nifty as well as Midcap since then.
- Spread chart breakout happened yesterday.
Financial Highlights:
- Net Revenues saw 29.3% jump in QoQ & 43% YoY.
- PAT increased by 59% QoQ & 130% YoY.
- Co. is continuously increasing its revenues & profits at a medium pace, which tells us the financial health of the company is sound.
- Indoco's Defensive & Enterprises EPS are also been positive throughout the years, which tells us that the company is able to sustain itself without taking any more debts & they are able to monetize their current expenditures for next few years.
About Indoco:
About Indoco Remedies Limited:
Indoco Remedies Ltd., headquartered in Mumbai, is a fully integrated, research-oriented pharma Company with a presence in 55 countries. Indoco, a USD 166 million Company, employs over 6000 people including more than 300 skilled scientists.
The Company has 9 manufacturing facilities, 6 of which are for FDFs and 3 for APIs, supported by a state-of-the-art R&D Centre and a CRO facility. The facilities have been approved by most of the Regulatory Authorities including USFDA and UK-MHRA. Indoco develops and manufactures a wide range of pharmaceutical products for the Indian and international markets. It generates more than 70 million prescriptions annually from over 3,00,000 doctors belonging to various specialties. Indoco has 9 domestic marketing divisions with a strong brand portfolio in various therapeutic segments. Indoco has tie-ups with large generic companies across the globe.
INDOCOAll charts/views posted here are for educational purpose only. We are not responsible for any of your profit/loss.
INDOCO.. highest monthly close..BULLISHin the collpase of pharma stocks recently
INDOCO held its ground and closed at all time high
taking a 280 box points roughly, a possible 450 + 280 = 730 as probable target is possible
buy indocoit has retest its breakout level also whenever it came down and touch 50EMA price has gone up. we may see 525/550 in coming weeks. view negated below 430 clbs
INDOCO - Buy1) Stock took support from the demand zone.
2)Volume doesn't look promising.
3) Enter with a SL below 318.
INDOCO 23/05/2021Restesting of the earlier breakout level 335 done nicely and reversed.
Buy at CMP (349-352) with SL at 335.
Target 380/410++
Risk to Reward 1:2
indoco remedies short term buycmp 336
buy till 326
keeping sl as 313 on weekly closing basis
for targets
342/348/356
364/370/377++++
