Currently trading in a previous resistance zone as marked on the chart. Break above these levels will lead to 120 in medium term.
Current levels ok to build position (Waiting for break out of resistance zone not Needed)
Investing in this stock would require patience as it has a tendency of consolidating within a range for long periods before moving.
This is only...
RSI: Bearish divergence
Channel: Upper end
A 6% drop can be expected.
Use your own SL levels (prefer), if confused follow the mentioned levels.
Expected Level: 194.55
(This is only my opinion, not financial advice. Consult your financial advisor before making any decision based on it)
Animesh Vashisht, CFTe
Levels mentioned on chart.
(This is only my opinion not financial advice)
Do not carry the position home. This is a day trade only, posting at 1.50pm will be available for viewing at 2.05Pm (Tradingview time)
Do not enter if price goes too far from the rec price. Improvise)
Monthly chart CNXPHARMA
Price action: Blue arrows show higher top and bottom
Line studies: Price moving out of red downtrending channel
Averages: Support at 200 period EMA in June 2018 and Feb 2019
RSI: Bullish divergence + trending up NSE:CNXPHARMA
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