Wockhardt is an age old Indian pharma company which has been in loss since few years.
Stock has bounced from strong support and also gave inverted head & shoulders breakout.
Stock is consolidating post breakout.Not my usual technofunda pick but a very attractive technical breakout. Please know that risk is more with such ideas.
I had strongly recommended this stock for investments some time back. This stock is locked in 5% upper circuit post its QIP issue. That zone at 632 is the most crucial resistance. A monthly close above this will also be a breakout of the mid point of the double bottom.
Wockhard has been consolidation since 2013, over 10 years! But now it has given breakout on monthly chart. It's a structural change on the chart.
Needless to say, volumes look great for recent months.
CMP : 404
SL - 320
Target - 650, 750, 950 ,1200
Note: It's a monthly chart breakout. Stock can take a few months to couple of years to attain this...
Wockpharma (Wockhardt) Prediction for Swing/ Posional Trading
Breakout at entry 1 (254) level. Entry 2 is above 270 .It can retest entry 2 level , even entry 1 level. You can enter into trade at CMP or after retest.
Sls- according to you RRR.
Targets- 280,292,303,314,325,335,346,358,370,382,… (more will be updated later if need )
According to your...
Stock Name-WOCKPHARMA
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Entry, SL & Targets are given on chart
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(For long term)
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I am not a SEBI Registered. This analysis is purely for educational purposes only.
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If you gain some learning from this chart, then please like this post for more reach & also do comment if you have any questions regarding this.
WOCKPHARMA:Has formed a nice double bottom pattern in long term monthly chart.DEMA Positive cross over in monthly chart suggests a positional TGT of 750+(For educational purpose only)
1. RSI and Volume: RSI is on the rise, indicating increasing buying pressure. Volume confirms the upside momentum, suggesting strong bullish sentiment.
2. ADX and MACD: ADX is climbing, indicating a strengthening trend. MACD has experienced a bullish crossover, further supporting the bullish bias.
3. Higher Highs: The stock is forming higher highs in lower time...
Wockhardt is breakout from flag pattern and moving towards a target of 800+, ~60%upside. Other factors:
1. Volumes have again started picking up
2. RSI is above 60 on a daily basis
3. MACD is becoming positive
4. Dec quarter results are shows sign of getting better - Revenue has increased and loss has reduced
"Clean Charts, Easy Charts"
Learning & Earning!!
Cheers!!
With a visible Bullish Flag pattern breakout, the stock appears strong, and is geared for an upleg journey towards the initial target of 740.
Follow strict stop loss of 5-8% in case of trade going wrong.
Also, be cautious below 404 as it may signal a downtrend.
Note: Not a buy/sell recommendation. Consult your financial advisor.
In the Weekly Chart of WOCKPHARMA ,
we can see that; it has given a Trendline breakout.
Also it has retested.
We can see an up move from here.
Expected momentum is shown in chart.
There is something happening in pharma space. I recommended man kind yesterday. This stock also looks very bullish.
Candlestick- the three green candles in a row are called 3 white soldiers. This is a precursor to a big rally going forward.
Fib Analysis- its extremely bullish on the shorter term charts.
Conclusion- to me this is a good buy. Tgts are there...
As one can see Wockhardt Ltd monthly chart after down fall it made double bottom than inverted pattern made it to cmp. As it already double from low ..only high risk long term accumulation (on any downside for bounce back) observe for Upmove as trendlines resistance /double bottom mid point breakout resistance level . Where as currently daily and weekly moving...
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1%-2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Please note that, if there are some big targets, those are drawn thinking...
The chart shows a breakout of WOCKPHARMA from a consolidation range. The breakout is accompanied by a surge in volume, which suggests that the breakout is genuine and has the potential to sustain.
The stock has been in a consolidation range since early September, with the upper limit of the range at around ₹325 and the lower limit at around ₹280. On 16 November...
