Novartis India: Trading near 2.5 years range breakoutNovartis India is looking good on weekly time frame. Stock is trading near 2.5 years range breakout. Keep on radar.
NOVARTIND trade ideas
NOVARTIND: Demand Zone, Trendline, and RSI SupportThis analysis delves into the technical aspects of NOVARTIND's daily chart, with a focus on key features such as the demand zone, rising trendline, and RSI support. By examining these indicators, we aim to provide insights into potential trading opportunities.
Technical Analysis:
The technical analysis of NOVARTIND's daily chart reveals crucial factors that can influence trading decisions.
Demand Zone:
The demand zone on the chart is a significant area where buying interest tends to increase. This suggests that there is a higher probability of the price rebounding from this zone. As traders often use demand zones as potential entry points, the presence of one on the chart can attract attention.
Rising Trendline:
The touchpoint of the rising trendline further reinforces the potential support level for the stock's price. A rising trendline indicates that the stock has been moving upward and is finding support at higher price levels over time. This can serve as a basis for traders to anticipate a potential bounce from this level.
RSI Support:
The observed support on the Relative Strength Index (RSI) is another important aspect. RSI measures the momentum of price movements and can often show potential reversal points. The support level on RSI aligns with the idea that the stock might have reached an oversold condition and could experience a price rebound.
Trade Strategy:
Considering the technical signals on the chart, a possible trading strategy can be outlined:
Entry: Consider initiating a long position at the current market price (CMP) of ₹705.
Stop Loss (SL): Set a stop loss at ₹680 to mitigate potential losses.
Target: Aim for a target price of ₹765, factoring in the potential rebound from the demand zone and the influence of the rising trendline and RSI support.
Conclusion:
Based on the technical analysis, NOVARTIND's daily chart presents a compelling setup for traders seeking potential trading opportunities. The convergence of a demand zone, a touchpoint on the rising trendline, and RSI support point to a favorable outlook for the stock.
It's crucial to note that trading carries inherent risks, and traders should exercise appropriate risk management techniques. Additionally, investors seeking a comprehensive understanding of the stock's fundamentals should consult with financial advisors before making any trading or investment decisions.
As with any trading strategy, staying informed about market developments and closely monitoring the stock's price movement is essential. Integrating technical analysis with prudent risk management can contribute to well-informed trading decisions.
Novartis India: Looking good for longNovartis India is looking on chart. Stock is in good momentum since last 3-4 months. Recently company has announced dividend of Rs 47 also, record date of which is near. Keep on radar . Can expect good movement in short term due to dividend announcement also.
Novartis India: Trading near resistanceNovartis India has recently given a breakout and sustaining above breakout level. Seems stock is getting ready for further upmove. Company has also declare dividend of around Rs 47. Keep on radar for closing above 845.
Novartis India: On verge of 15-16 month range breakoutNovartis India is looking good on chart. Keep on radar for closing above 775. Pharma sector is also performing well. Can expect breakout above 775.
Novartis India: On the verge of BreakoutNovartis India is looking good on chart. Stock is trading near breakout zone of 13-14 months. Keep on radar for weekly closing above 641.
Swing trade opportunity in NOVARTINDSwing trade opportunity in NOVARTIND
Entry - 587.50
Targets - 640
DISCLAIMER: I am not SEBI registered and the ideas posted are only for educational purpose. Always trade with proper STOPLOSS.
Novartis India: On verge of rounding bottom BONovartis India is consolidating near resistance. Looking good for long. Keep on radar for BO
Sell from 844 SL 858 TGT 826 and 813Suggestions are based on my analysis only. Please do your analysis before taking any trade.
Sell below 855 SL 870 TGT 826 and 815Suggestions are based on my analysis only. Please do your analysis before taking any trade.
Swing and Intraday: watch for range breakoutbuy above 681
for swing trade stoploss below 620
For Intraday-
keep qty less as this stock is not very liquid.
For Stoploss use 5 minute chart and see nearest support.
for target also use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
NOTE: For Gapup or bo before 9:20
If gapup is more than 1% from bo level than avoid completely.
if less than 1% or gives bo before 9:20 than wait for
first 5 minute candle and entry above 5 minute candle
and revised SL below candle Low.
NOVART INDIA Novart India is at Breakout Level. The Momentum is already weak in the stock. Let the stock once give an Breakout downwards and can expect target at the upcomming support. WEEKLY SWING TRADE as well as intraday.
