29 June 2020
Glaxo (CMP 1493)
Inverse Head and Shoulder Pattern. It took 92 trading days for the pattern formation.
Long term is 552 points up from 1525.
Breakout above 1525 is crucial.
T1= 1709, T2= 1893, T3= 2077; SL= 1341
Target Date= 30 Oct 2020
ALL LEVEL DISPLAY IN VIDEO
FOLLOW THE RULES GUYS
1. BUY ONLY WHEN STOCK PRICE HIT BUY LEVEL
2.STOP LOSS IS VERY IMPORTENT
3.1ST TARGET HIT BOOK PROFIT WAIT 2ND TARGET CHOICE IS YOURS BUT TRAIL YOUR STOP LOSS
4.IF YOUR CAPITAL IS 1 LAC
YOU ONLY INVEST 5000 TO 8000 IN ONE STOCK
NOT PUT ALL YOUR MONEY IN ONE STOCK
BECAUSE MARKET IS UP AND DOWN NATURE
5.DO NOT TRADE...
On a daily the counter is showing a strong base formation above 200 SMA. This triangle after a strong impulse is looking really hot. Won't b surprised if we see 1700 levels in no time.
It will be interesting to see how a strong fundamental MNC pharma Glaxo behaves in the upcoming week. Already, it is corrected ~18 percent. Immediate support is 1310 followed by 1280 and 1260. The first target would be 1680-90 followed by 1748.
Hi all, GLAXO looking excellent formation and Risk-Reward trade to the upside.
***Use Proper Risk and Money management Rule if you don't had a one please watch the play don't trade.
If you have any Question comment below
Thank you for your support
--Prabhu Rajarathinam
Glaxo:2731 Target 3000_3200 stop:2660
GlaxoSmithKline Pharmaceuticals is supported at 62% retrace level and having a break out from the consolidation now
A clean 5 wave either completed OR to be completed. Once this completes as A wave..then a multi month B wave corrective rise should come taking prices to 3100 to 3500 levels.
A contrarian buy for a period of 1 year to reap returns of >25%+
