CMP 537, TGT 660 SL 495 TF 2 MONTHS. Stock is in longterm uptrend.
Disclaimer: I am a novice at charting and this chart is for educational purpose only. Views and opinions are welcome.
Fundamentals-
1)A very attractive large cap company in the space of Pharma
2)Company is beating the sectoral growth rate, operating profit, sales etc YoY.
3)numbers like Operating profit, net sales are doubling YoY @>20%
Technicals-
1)Stock is about to touch the all time high.
Keynote-->Its a good stock that can be accumulated at every dip.
Positive News1-->...
It is been observed on the the Daily and Weekly chart that the price action is consolidating for past 10 weeks continuously within a rectangular or sideway channel. Now, it has finally broken above the the channel and shall further move up to new highs if it closes above 465 levels.
Target 1: 480
Target 2: 490
Stoploss: 455
The price action is trading a diagonal triangle and it is urge of a breakout on either side of it. Today's close shall determine the furture price action in this. Keeping a close eye on it as the breakout on either side shall reward in good returns.
