SWING IDEA - CAPLIN POINT LABORATORIES
Updated
Caplin Point Laboratories, a leading pharmaceutical company known for its focus on generic formulations with strong fundamentals, presents an attractive opportunity for swing traders and investors.
Reasons are listed below :
Target - 1410 // 1540 // 1620
Stoploss - weekly close below 1207
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- Support Zone at 1200-1250: Caplin Point Laboratories has established a strong support zone in the range of 1200-1250, showcasing its resilience and attracting buying interest at these levels.
- Bullish Hammer on Weekly Timeframe: A bullish hammer candlestick pattern observed on the weekly timeframe signals a potential reversal of the downtrend and indicates bullish sentiment among investors.
- Bullish Engulfing on Daily Timeframe: The formation of a bullish engulfing candlestick pattern on the daily timeframe, engulfing ten previous daily candles, reinforces the bullish outlook and suggests a shift in momentum in favor of Caplin Point Laboratories.
- 0.5 Fibonacci Support: Finding support at the 0.5 Fibonacci level strengthens the bullish case and provides a solid foundation for potential upward movement.
- Higher Highs: The stock has consistently formed higher highs, reflecting a trend of increasing bullish momentum and indicating potential for further upward movement.
- Trading Above 50 and 200 EMA on Weekly Timeframe: Caplin Point Laboratories is trading above both the 50 and 200 Exponential Moving Averages (EMA) on the weekly timeframe, further confirming its bullish momentum.
Target - 1410 // 1540 // 1620
Stoploss - weekly close below 1207
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Trade closed: target reached
1st target achieved : 7.2%++Note
forming a double bottom pattern.We can add some quantity here
Note
Stock is range bound for now, hold!!Trade closed: target reached
2nd target achieved : 17%++Note
momentum building up, hold!Note
trying to break previous swing highs, hold!Note
Made a high of 21%+Note
close to our 3rd targetTrade closed: target reached
3rd target achieved : 25%++Note
made a high of 44%++Note
made a high of 50%++Note
made a high of 64%++Note
highest weekly close!Note
made a new weekly high : 65%++
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