Sanofi India has been hammered by the market and now looks like it is at its bottom. These levels might hold and one can look to accumulate the share for the long term at current levels.
SANOFI - Bulls Counter attack in Weekly charts, Strong momentum is observed at Accumulation zone , potential reversal for considerable up move till 8000 and higher
#SANOFI #SWINGTRADING #CANDLESHUNTING
HAS MADE A CRITICAL WEEKLY CLOSE ABOVE 7608 ( 9-WEEK HIGH)
ABOVE 7650 , CONTINUED CANDLE SHUNTING UPTO 8156
TGT 8153
STOPLOSS 7350 ( WKLY CLOSE)
RISK:REWARD : 1:2
embedded is DIVIDEND OF 490 with book date of 4-MAY-22
YIELD IS 6.3% ( expect ex-dividend correction post book date)
Sanofi India Limited is engaged in the manufacture and sale of pharmaceutical products.
Current price is more than the intrinsic value
Stock offers good dividend returns
Low probability of default in next 12 months
PE Ratio 17.87
Midcap
With a market cap of ₹16,872 cr,
Over the last 5 years, revenue has grown at a yearly rate of 7.67%, vs industry avg of 6.95%
In...
Sanofi was correcting from 11/08 from 9275 and it went down to the level of 7435 on 20/12. Since then, it is consolidating in a healthy way. It now seems to be a reversal candidate and uptrend may start soon and strongly.
Chart Pattern:
1. Double Bottom
- It created double bottom with second bottom above the initial
- It created double bottom with positive RSI...
Go Long above 7797.1 for Targets of 8158.95, 8520.8, and 762.75 with SL 8882.65
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 0.5 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Engulfing (marked with orange...
SANOFI: Looking Good
Expecting Bounce Back to Bullish from Support Level Trend Line
Buy Above/CMP 7701.80 Add Every Dip Stop-Loss Closing Below 7450 (Safe) 7200 (Risky)
Target 7950-8200-8500-8800+++
Positional Call
#SANOFI - add at bottom of trading range 7500-8300
Stoploss 7300 ( weekly close)
Risk: Reward - 1:2+
Absolute return - 10% ( duration 1 qtr)
The stock has a beta of 0.2 in long term and a beta of 0.29 over last 2 years, could get less impacted by large swings on the index.
SANOFI :
- one of the good Fundamental company
- available with low price.
- if able to close above resistance good to add
This is for educational purpose only and personal view
Sanofi has broken out from long consolidation in last 3-4 weeks...currently the stock is retesting its breakout trend line....respected it and had bounced off from the trend line
Broken the trendline and saw a major uptick in the stock price w.r.t the volume. Then forms symmetrical triangle and again saw a major BO (Downwords).
Also could not sustain the support line of 8237. Now if it could sustain the next support line i.e. 7877, it could move up again. But if it falls further then the target would be around 7400.
