STAR fell from 1000 levels and recently mada a low of 263. Now it's coming up to test it's 6 month old trendline and crucial support and resistance zone.
Buy above 337 levels intraday for 0.75-1% move.
Positionally buy above 342 level on closing basis. Targets would be 348, 359 and 368.
Disclaimer: This idea is for educational purpose and kindly buy as per your...
NSE:STAR
#NSE:STAR 310 & 330 CE bagged handsome profits of 15k/lot today and formed beautiful ascending triangle.
BO Reisistance and sustainability may show good upside momentum,
BD trendline support levels marked for caution.
Happy LEarning
If Breaks Then The Targets could be Taken at 518 .
Time Frame :- 1 Day
Symbol Name :- Strides Pharma ( Star )
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We are not responsible for any profit or loss .
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Stock has corrected a lot and is available at less than 25% of its all time high price..........Stock reached the bottom of the pitchfork and the green shoots suggest that correction is over for the stock....one can start accumulating the stock for good gains in coming days
-> STAR forming clear downtrend with LH & LL formation.
-> Inverted Hammer is formed at previous support, which is now resistance.
-> RSI Indicating Hidden Bearish Divergence.
-> Price is in the range of previous Week Virgin CPR.
-> Good Shorting Opportunity with Good RR ratio.
-> Keep SL above the inverted Hammer candle & aim for 1:3
Bearish cup and handle on the daytime frame,
STAR sells once their cup handle gives a signal at the downside and can expect a 4-5% fall immediately.
I hope it will helpful for you
Star is breaking the long term trend line and looking like a good buy if sustains above 384 for the upper marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
->Clear Downtrend Indicating Lower Low(LL) & Lower High(LH)
-> Inverted Hammer is formed at previous support which is now resistance.
-> Fibonacci Indicating 61.8 level rejection.
-> RSI Indicating Bearish Hidden Divergence
-> Trade Idea
Entry - Below low of Candle.
SL - High of Candle.
Target - 38.2% Fibonacci Level
Star has falling continuously since last some months. Now Bullish BAMM is active in STAR. One can initiate Long entry above 337.80. With Stop loss of 312
