TORNTPHARM trade ideas
[Buddha] TORNTPHARM Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
Torntpharm / Torrent Pharma facing rejection at the top.Heavy delivery based selling. I expect the stock to fall down to touch 20 EMA or support line shown.
BUY TORRENT PHARMA- TODAY WAS BANKING SECTOR'S DAY , TOMORROW WILL BE PHARMA DAY.
- TARGET 2450-2500
- TRADING IN A CHANNEL AND STRONG SUPPORT ZONE
Torrent PharmaBuy if sustains above it strong support 2400 on closing basis
Positional Buy for 2465. 2497. 2573. 2675
Keep strong Sl 2400
Torrent Pharma Buy if sustains above 2400 on closing basis
Positional Buy T1-2465 T2- 2500 T3-2600 T4- 2675
Torrent Pharma: Importance of the lines and ZonesThere is a High Probability that Torrent Pharma will brake its trendline and Trade above its breakout level.
Please find the demand and supply zones for the target and stop loss.
Importance of the lines.
Torrent Pharma getting ready for a new All Time High ?Ascending Channel Pattern
Stock is pushing too hard on the upside. We have an Ascending Channel + Ascending Flag Pattern in the making.
The stock took all the support that it could around 200 EMA & lower channel.
Now the stock is making Higher Highs & Higher Lows which is a bullish continuation confirmation.
If stock breaches the channel, Long Trade will activate. If stock breaches from the current level then let it cross our green square.
Rising volumes will be a 2nd confirmation of the bullish trend.
Stop loss will be the upper channel.
Target will be open.
Stay Safe & Trade Safely.
Torrent PharmaUpdated earlier about the Triangle and is now working out very precisely. 2450 is the SL it seems now.
TORRENT PHARMA LONG TRADEBuy at current level around 2500
Target around 2760 supported by Fibonacci extension
Horizontal lines indicate buying price and targets
Risk management as per your risk appetite (I consider 5%)
Basis
1. Trending up as per SMA crossover
2. Monthly and weekly RSI above 60
3. Decent volumes
4. Volatility is high
Simple trade analysis
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TORRENT PHARMA - TRAINGLE CHART PATTERN BREAKOUTTORRENT PHARMA IS SHOWING TRAINGLE CHART PATTERN POSITIVE BREAKOUT.
Torrent Pharma continuation trendOn daily time frame, stock is showing really good long setup with a Symmetrical triangle which is indicative of continuation of bullish trend
Since , Nifty Pharma is taking on a ride and pharma stocks are hitting through the roof.This will be a good long bet in the bearish Market.
Initiate a long trade as soon as it breaks the last high of 2525 with a stop loss of 2440.
Volatility is expected since the markets are very choppy and there is a lot of noise.
These are solely my views. Trade wisely
Torrent Pharma - Breakout - Cup and Handle Torrent Pharma has given breakout from the cup and handle pattern. Initiate long.
Target : 2760,
Stop loss : 2515
Breakout in Torrent PharmaNSE:TORNTPHARM
It was moving in a wedge pattern for some days,
Today it faced huge resistance but it has already given Breakout in OBV with Rising Volume,
Torrent Pharma: Symmetrical TriangleStock is showing a strong momentum. It has been taking support at its 20 EMA. A formation of a Symmetrical Triangle is seen in Wave (iv) which if broken we may see a decent rally towards 2800 levels.
TORRENT PHARMA Trading SetupDisclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
watchout for breakout. possible date: june 1st weekwatchout for breakout. possible date: june 1st week
