Long

SWING IDEA - ERIS

Updated

Stock is currently trading near its Multi Year Support/Resistance zone of 836.
While 836 has been a strong Resistance/Rejection point twine in 2018 and 2021, this has turned out to be a good Support point currently since Sep 2023 during multiple revisits.
MACD Cross is also under play at this time.
If all goes well, the stock could start seeing some new highs in the coming weeks.
Stock has also had a good Earning report this past week, so lets hope for a move upward.

Note: Stock has been consolidating in the same zone for nearly 6 months now. With good volumes, it could very well see new highs.

Note

11% Profits done so far.
Trade seems to be going exactly as expected.
MACD Cross is holding really well.
Could hit targets sooner than expected.
Keep a close eye.

Trade closed: target reached

Trade Completed. Target Achieved.
Total 17% Profits booked.
Time Taken = 2 weeks.

Congrats to those who made good profits with this Trade.
This is how perfectly Price Action can mint you money when done right.

Follow for more such Ideas!
Comment any Stock that you want me to take a look into and share insights.

Kudos!!

Note

Positive News:

Eris Lifesciences has completed the acquisition of a 19% equity stake in Swiss Parenterals from the promoters of the company, according to a Tuesday filing to the stock exchanges.
In March, the pharmaceutical company agreed to acquire an additional 19% stake in Swiss Parenterals for 2.38 billion Indian rupees.

Note

Total 21% Profits achieved from our Entry zone. Congrats to those who are still holding on to this trade and booking bigger Profits.

Note

Despite a weak market this week, stock has managed to still go upward and achieve close to 27% Profits from our Entry Zone. Congrats to those who are still holding on to the trade and booking higher profits.

Note

Positive News: India's Biocon posts Q1 profit rise on sale of branded formulations business. Biocon said in March it would sell the branded formulations business to Eris Lifesciences in a deal worth 12.42 billion rupees.

Trade closed: target reached

Total 35% Profits achieved from our Entry Zone. Congrats to those who are still holding on to this trade and booking higher profits.

Trade closed: target reached

Achieved 42% from our Entry Zone. Congrats to those who still held on to this trade and booked even more higher profits.

Trade closed: target reached

Achieved 55% Profits from our Entry Zone. Congrats to those who are still holding on to this trade and booking higher profits.

Trade closed: target reached

Achieved 69% Profits from our Entry Zone. Congrats to those still holding on to this trade and booking bigger profits.

thepranam

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.