Hello Fellow Traders,
Today I am Sharing with you the PriceAction of WockPharma. As you can see that the stock had made high around 680 range in the month of May. After that the stock is making DESCENDING TRIANGLE PATTERN. We soon can except a breakout in the Stock. So lets wait and observe the stock movement ahead.
THANKYYOU.
WOCKPHARMA on yearly chart daily time frame double bottom formation seen recently 410-415 level and for confirmation breakout also seen 450 sub level which clearly indicate bullish upword movement projection around 500-600-750 as target ..stop loss bellow double bottom line which is 400 level.
RSI wap also bullish indication and near 50 now on daily time frame...
According to my analysis, I see a good buy in WOCKPHARMA @482-484 in this bullish market.
Reasons:
1. Supertrend* generated a buy signal.
2. Average Directional Index is above 20** and is rising.
3. Close to 200 ema, Bounce Back Expected.
4. Near PIVOT R2, May act as support now.
Time frame: 1day, Strategy Type: Swing Trade
*Supertrend settings= 14/3
**ADX above...
After falling 50% from its recent high, Wockhardt pharma looks good technically forming a triangle with a breakout. Can enter for decent returns in the short term. Stop-loss can be placed around 430 levels.
Following points can be observed:
1. There has been an sharp increase in volume.
2. Script has broken 200ema on daily charts.
3. Trendline breakout seen and it's confirmation by gap up the next day.
4. Resistance near 507 area was breached intraday.
5. 50ema high low band crossover.
Stop loss: just below 200 ema.
Very favourable risk-reward setup.
Note: This...
Stock: Wockhardt Pharma
Setup : Closing above month high after downtrend and sideways movement. (Quick Bounce)
Entry : 460-480
Stoploss - 440
Target 1 - 520
Target 2 - 580
Time Frame - This is positional trade idea for 3 to 6 months and is a high risk trade.
Risk: Wockhardt Pharma is currently reporting losses since last two quarters and prior to that was...
