Head & Shoulder formed in STAR!Strides Pharma (STAR) has formed a H&S pattern. The most interesting thing about this is that it's neckline coincides with it's crucial level of support at 762.15. If you go backtrack a bit 762 level had been acting as crucial resistance & support for this stock since a long time now. So if the neckline is breached one can go short and expect 730 levels in the short term and even 700 levels in the long term.
Trade ideas
STAR, NEAR 5 YEAR TRENDLINE BREAKOUT (CHART# 378)All levels mentioned on chart.
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Piyush Gupta
Strides Pharma (Star Pharma) - Bullish Structure Intact
Strides Pharma has consolidated horizontally since May'2018 to August 2020. (nearly 15 months)
It has given a breakout in August 2020 and since then sustaining the price above the previous consolidation area.
Recently it tested 594 and made a Wolf Wove Analysis Pattern where clear entry was made at 602. (please refer this pattern in chart below in comment)
It looks like stock is completing its Pullback structure of recent breakout move.
If price sustains, it can be a good pick for positional buy trade. Those who bought at 602 (on Wolf Wave Analysis) may remain in trade.
STAR is Making Descending Triangle Pattern (Breakout Trade)Strides Pharma Science Limited : Pharmaceutical Company ( NSE:STAR ) is Making Descending Triangle Pattern (PATTERN BREAKOUT TRADE).
This can become a very good trade for INTRADAY traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that broke this pattern. Or Low/High swing backward inside the pattern.
And as soon as you get a profit of 0.50% of your target, you will trail your StopLoss and bring it to the entry point. And as soon as your first target is hit, you will release half of your total quantity and continue to trail your StopLoss above the last swing Low/High.
Target and StopLoss are never already fixed in the chart pattern.
Thank you.
You always have to trade only by money management, position sizing, StopLoss trailing. This is the way to stay in profit.
Chart Published By Ravinder Sharma
STAR is Making Symmetrical Triangle Pattern (Breakout Trade)Strides Pharma Science Limited : Pharmaceutical Company ( NSE:STAR ) is Making Symmetrical Triangle Pattern (PATTERN BREAKOUT TRADE).
This can become a very good trade for INTRADAY traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that broke this pattern. Or Low/High swing backward inside the pattern.
And as soon as you get a profit of 0.50% of your target, you will trail your StopLoss and bring it to the entry point. And as soon as your first target is hit, you will release half of your total quantity and continue to trail your StopLoss above the last swing Low/High.
Target and StopLoss are never already fixed in the chart pattern.
Thank you.
You always have to trade only by money management, position sizing, StopLoss trailing. This is the way to stay in profit.
Chart Published By Ravinder Sharma