#PanaceaBiotech cash - Positional call 07.09.2021 Looks good above 328.50 stoploss 318 Tgt 343-348 (Risk free above 350 for 368/384) Cmp 321.70 (Alert - Trade as per levels only else avoid)
With the 1st target at 428 ie 100 points from the current market price,We can see a minimum return of 30% And the stop loss at 323.50 Breakout before 1st September RSI and MACD levels are bullish on the stock
RESISTANCE BREAKOUT: PANACEABIO INTRADAY IDEA ABOVE 365.5 Follow for more ideas
From swing high to low, price is at 38% fib retracement and at 200 dma, buy within range of 299.60 to 281.05 for Target 453.70
will it test 310 before its next up move?
The production of Sputnik V, the COVID-19 vaccine granted emergency use authorisation, has been launched in India, said a joint statement issued by Russian Direct Investment Fund (RDIF) and pharmaceutical firm Panacea Biotec on May 24 I have came across this Ascending triangle, waiting for breakout !
Now that more good news is coming in the stock, this stock could make a new ATH. Long above 380. Buy only that much to keep atleast a 10% SL so size your allocation accordingly.
What a beautiful breakout. Look at the towering volume candles in the last 4 weeks. Already tested the breakout area on Daily candle. 2000cr Market cap, Vaccine story. Great order book. Good for 20% return in a couple of weeks. Could potentially double in the next couple of months.
PANACEABIO (MONTHLY):- Multiyear Breakout done looks good for 500/600++ Target with 200 WCB Stop loss
panacea biotech can be bought for long term but might face resistance in a day or 2 for intraday sell option
Panacea Biotech has given CUP & Handle breakout in weekly time frame. Handle breakout with High Volume , RSI above 60 should definitely rising high. T1-350 T2-435 Fundamental: Although pharma is in loss for couple of qtr but Russian Direct Investment Fund (RDIF) to have contract for the manufacturing of Sputnik V vaccine,expected production in next 1~2...
Just look at the volumes since its IPO. Tremendous participation can easily be seen. And look at the bullishness of the last monthly candle (though candle not completed but still even a 10% of a fall wouldn't lower down its bullishness). Long term people, notice it. I can say with extremely high conviction, it will break that above TL.
On the daily technical chart, the stock is rocking in the Performance area. It is suitable for very short term trades as it doesn't have healthy fundamentals so not recommended for long term investment or Positional Trading.
The weekly resistance of 263-265 break done and maked high of 284 good for short term, and also have the news regarding sputnik v vaccine production
panacebio chart analysis for intrday and swing trading
According to many experts Panacea is among the leading fillers of vaccines in our country.In the past they have had a bad time w debt etc but their turnaround might be just around the corner. Rumour has it Dr. Reddy's will utilise them for filling of the Sputnik V for India and the rest of the world which could be a major major opportunity over the next 12 months...