TORNTPHARM trade ideas
Torrent PharmaUpdated earlier about the Triangle and is now working out very precisely. 2450 is the SL it seems now.
TORRENT PHARMA LONG TRADEBuy at current level around 2500
Target around 2760 supported by Fibonacci extension
Horizontal lines indicate buying price and targets
Risk management as per your risk appetite (I consider 5%)
Basis
1. Trending up as per SMA crossover
2. Monthly and weekly RSI above 60
3. Decent volumes
4. Volatility is high
Simple trade analysis
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TORRENT PHARMA - TRAINGLE CHART PATTERN BREAKOUTTORRENT PHARMA IS SHOWING TRAINGLE CHART PATTERN POSITIVE BREAKOUT.
Torrent Pharma continuation trendOn daily time frame, stock is showing really good long setup with a Symmetrical triangle which is indicative of continuation of bullish trend
Since , Nifty Pharma is taking on a ride and pharma stocks are hitting through the roof.This will be a good long bet in the bearish Market.
Initiate a long trade as soon as it breaks the last high of 2525 with a stop loss of 2440.
Volatility is expected since the markets are very choppy and there is a lot of noise.
These are solely my views. Trade wisely
Torrent Pharma - Breakout - Cup and Handle Torrent Pharma has given breakout from the cup and handle pattern. Initiate long.
Target : 2760,
Stop loss : 2515
Breakout in Torrent PharmaNSE:TORNTPHARM
It was moving in a wedge pattern for some days,
Today it faced huge resistance but it has already given Breakout in OBV with Rising Volume,
Torrent Pharma: Symmetrical TriangleStock is showing a strong momentum. It has been taking support at its 20 EMA. A formation of a Symmetrical Triangle is seen in Wave (iv) which if broken we may see a decent rally towards 2800 levels.
TORRENT PHARMA Trading SetupDisclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
watchout for breakout. possible date: june 1st weekwatchout for breakout. possible date: june 1st week
Torrent Pharma: On the verge of fresh uptrend?Torrent Pharma seems to have completed wave (iv) correction and now might be heading towards wave (v) which is expected to terminate anywhere between 2730 to 2800. Follow up price action from here would be interesting. Minor hurdle is around 2580 which if crossed we may see a strong impulsive move on the upside.
TORRENT PHARMA Trading SetupDisclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
8.0 TORNTPHARM - LONG IDEACapital available after previous trade 7.0 = 1630422
Risk 0.2% = 4000
Position size = 4000/150 = 26
Investment = 2450*26 = 63700
Capital available for next Trade 10.0 = 1630422 - 63700 = 1566722
Torrent Pharmaceuticals Ltd. - BullishTorrent Pharmaceuticals Ltd. pulled back after sharp upmove,
It is approaching critical support level of 2240-2280.
The stock is below midbol 2378,if it takes support around 2240-80 zone and moves above 2378,it may resume upmove towards upper bol 2587.
RSI & MACD bullish
