TORNTPHARM trade ideas
Upside for Torrent Pharma?Torrent pharma broke out of a 'Falling Wedge'. I think it will retest the previous high atleast and if it breaks that high and goes beyond, we might be in for a big move. For now, a retest of the previous High is a good target to look at.
Bullish Hidden Divergence on the MACD seems to support the idea of an upmove.
torrent pharma tgt 1577after double bottom stock is moving higher
big moves followed by swift small corrections towards 1500/1150/1575
TORRENT PHARMA - GAP FILLING UPMOVEThe stock has shown strength with good and rising volumes;
thereby filling a huge unfilled one created on 27th October 2016.
Keep in watchlist.
2nd blue line should act as support.
Torrent Pharma Buy 3LR PatternThe stock seems to reversing its prevailing downtrend. It has crossed the last resistance decisively which would work as support in future. Now we have good structured Stop loss for our long trade. Today's bar formed a 3L-R bullish Bar so one can buy the stock for a target of above 1550.
BUY Torrent Pharma Target 1495 1560 Stop Loss 1380Above Kumo Cloud
Breaks above consolidaton zone.
Price above Tenkan & Kijun Line.
ADX has started trending.
Stochastic not in overbought zone.
Next Resistance - Gap Down Zone.
Closing above resistance of 1560 may take the stock to 1700.
TORNTPHARMA H1 Butterfly ready to flyUnable to crosss the previous supply zone in daily TORNTPHARMA looks like will be going for a dip here.
Trade Plan:
Aggressive: if 1436 breaks first
Entry1: Short half the size at 1436
Entry2: Short the rest at 1461.
Conservative:
Entry: wait and short full near 1461
STOP LOSS:
For both methods SL is above 1482.
Target: 1400 and TSL
Disclaimer: All the views shared are for educational purpose and my self improvement purpose from other senior traders. if you find any scrip interesting plz do your own analysis or consult SEBI registered financial advisors before taking trading decision.
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Hidden divergence...Continuation pattern.Study: If new candle forms OH outside the bottom trendline, one may jump into the trade with very small stop loss, for a good RR.
short the stock as we can see that there was a bearish engulfing pattern few days ago and and today bearish kicker signal there and price below 8ema and bearish divergence add to it.
Torrent Pharma-Hourly Rising WedgeTorrent pharma-hourly chart indicates a rising wedge pattern.
Can the stock fall out of this rising wedge pattern as the buying volumes
have dried up after the huge selling volume
TorrentPharma - Sellers are active @ 1375Its been observed on daily basis that Torrentpharma facing resistance 1370-1380 trend-line. This might further go down. Its a sell @ 1350-1355 levels with strict stop loss of 1375 on closing basis.
TP - 1320
SL - 1375
buy call as we can see the bullish divergence there and bullish kicker signal and the market coming from a oversold area i prefer to go long
TORRENTPHARMAStock will open 3-4% down or it will take support near 1480-70 and may reverse from here so buy on dip and target 1550-1600 again (positional view)
