Refer the charts to see the inverse H&S formed on charts of Strides Pharms, seems like stock is bottoming out. Wait for the breakout of 530 levels with good volumes.
SL : 490
Targets: 580 and 600
Star analysis was shared 29 Aug when CMP was 603 . Told that it is going to hit 530 level. And that is the support area for the stock.
STAR
Buy - 525-530
Sl- 510
Target - 670 740
NSE:STAR
Star Has been in a downtrend for a long time it's good time to start shorting as there are no hopes for big runs. Earnings also are calling and charts do not look good as well
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
Looks good for LONG when it closes above 623 and trades above the same. For the target of 720-743 in short term.
However the SL is 570.
CHART AND ANALYSIS BY
ADARSH DEY
Keep a close watch on Strides Pharma. The stock is trading at approximately 40% discount from its all time high this year. It is available at good price for accumulation for those who are looking to invest for a long term in this stock.
Strides Pharma is consolidating near the support on the day chart. Keep this stock under watchlist. One strong move can be seen from this point in any direction. Wait for the breakout or breakdown or this consolidation.
Strides Pharma Science Ltd. engages in the development, manufacture and distribution of Internet Protocol-led generics and bio-pharmaceutical products. The company was founded by Arun N. Kumar on June 28, 1990 and is headquartered in Bangalore, India.
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