STAR : 1050 TARGETSTAR : 1050 TARGET
Accumulated at the current range for target 1050
Pattern Looks like Double Bottom
Trade ideas
Swing Opportunity in Strides PharmaGo Long above 780, Targets of 828.45, 876.9, and 925.35 with SL 731.55
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. A bullish candlestick pattern, Bullish Engulfing (marked with an orange circle) is formed at 0.618 Fibonacci level.
3. Also there is a strong demand zone as this level is acting as a support to the stock.
Strides Pharma - Support Zone NSE:STAR is trading near major support zone.
Also the 38.2% of the fibonacci level lies in that support zone. which indicates the strength of the bulls in that zone.
but we can also see that it forms a Descending triangle pattern which indicates more fall in the stock (Theoretically).
Do your own analysis and wait for the direction.
Stride Pharma aims to FLYStride has its own way moving up. Friday 9th of july the stock closed at a price of 773.60 close to one of the critical support that the stock has facerd on daily, weekly charts. The support might be numbered at 771.85. what i believe is that this is a strong support that it has deflected and bounced off in adverse condition a small extension of the selling of the previous day. It presents with a good opportunity to buy 50% at CMP and next 50% after retracement. Should give upto 50-60% return within a time span of 2 months. Even if the trade duration is elaborate/ long. A duration of a month could give a return of about 30% for sure. Do give your Reviews. Note: RSI taking support on 40
Tip: I am not a SEBI registered analyst.
All method suggesting breakoutAs per my studies of various methods, all method are suggesting a strong rally, according to price action , flat pattern is clearly visible, according to wyckoff,it's re-accumulation, and as per elliot wave ,wave 2 correction is going on, main thing here as an all the methods are suggesting that trend is still upward, one may adjust their target as per his own methods. Flag target is lenght of the pole, elliot target 1.618 of wave 1.
Buckle your seat belt...Storm is coming....One who have waited and kept patience will be rewarded any time soon as we are now moving into wave 3 of SUPERCYCLE wave III. Macd suggest end of wave 2.
Very manupulatives moves in this scipt.Weak fishes were caught off guard, be careful. Check delivery and volumes before entering. Take your advisers word not mine. Thank You
Long Strides PharmaStride Pharma has been taking strong support around 756 - 757. The 200-day ema is placed at 754, the stock may bounce from this level and is possibly a good buy with a favourable risk-reward.
Please trade at your own risk
Trading Genius.
Accumulate, Hold for Long term Excellent Opportunity to buy the stock. Strides revenues in Q4FY21 grew by 47% YoY to Rs.908 cr during the quarter with sales growth in the regulated markets and emerging markets.
I have entered around the 770 mark as Investment and plan to hold for long term
Chart study, not a call
STRIDES PHARMA (longer term perspective)Strides Pharma is in a re-accumulation phase on monthly charts. Even fundamentally its subsidiary is yet to get listed somewhere around 2022, organisation is going places
STAR Low Risk set up, Good levels to accumulate for long term.Mark Down Phase
Stock gave a major breakdown around 800 levels and came down till the supports of 2012-14 Base.
Accumulation Phase
During 2012-14 stock formed small consolidation and gave a breakout. Now in March 2020 Fall the stock took exact support at that small consolidation in 2012-14. here stock consolidated with volumes. Exactly after the breakout in September 2020 volumes reduced. This is the accumulation phase, that lasted from April 2018 till September 2020 (Price Range 520-300).
Markup Phase
Stock gave a beautiful breakout out of the the accumulation phase & entered the mark up phase. Currently the stock is in mark up phase only.
Plan of action.
As the Stock is in Mark up phase the up move is expected to continued. Stock now consolidating above 800 which was a major breakdown level after the up move. As it is just above the supports with comparative lower volumes than the up-move, Expecting stock will move further and the volumes will return. As Stop loss at 690 below current consolidation will be ideal.
