Just an idea , with good volume tomorrow it may touch 490.
Shilpa Medicare Head & Shoulder Pattern : due to covid pharma sector is booming once again , focus pharma stocks.
Shilpa Medicare was in a downtrend since August 2020. The counter tested its lowest price on 19th March 2021. Thereafter the counter experienced a pull-back with a small correction. The price gave breakout on a daily chart today on 20th April 2021. This breakout was supported by increase in the volume. This price behaviour has formed the Inverted Head & Shoulders...
Inverted Head and Shoulder Pattern formed long with a Breakout from a Falling wedge. Simple price action analysis.
NSE:SHILPAMED Levels are Mentioned in the chart... Look for Swing Note: 1. Views are personal. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for...
Shilpa Medicare looks to start Wave 3 and shall make new highs soon at CMP 345/-. Study would be invalid below 300/- on closing basis.
SHILPAMED is at support zone. Buy for targets of 392/492 & beyond. SL below 346 CLBS
This stock can touch the target when it keeps its buying line intact. We can buy it when it keeps the buying line intact. And the supporting range can be our stop-loss
If resistance is crossed then the scrip will turn bullish. Entry can be made by 22nd January if it remains above 465 on closing basis.
Shilpa Med formed Falling wedge pattern and Gave Breakout on 9th Dec. also it might move back to pre-gap level i.e. 550 in near term. entry level 490 Target 550 - 585 Stop loss 465 Time : 15 to 20 Days Overall indicators are also Positive as on 10th Dec 2020
Please enter the trade once u get a proper breakout or reversal from the levels, Do not hesitate to contact me with any queries. Kindly support my views. Thanks
Any of my investment or trades I share on my view are provided for educational purposes only and do not constitute specific financial, trading or investment advice. ... You must be aware of the risks and be willing to accept them in order to trade or invest in markets. Don't trade with money you can't afford to lose.
Shilpamed looks good for medium term, If 610-620 cleared, much higher level possible