Torrent Pharma (A breakout on the Cards ?)
Torrent Pharma looks to be doing an Asian Paints (Just check out the Asian Paints Chart of the last week and you will know why the reference). The trend line has been respected for quite a while and any breach of the same will be followed by some substantial move (Hopefully).
The price has been consolidating in a range which is a sign that a breakout might be a good one.
Purely basing the trade on price action any breach should take the stock in the range of 2950-3000 again. 2850 looks like a final hurdle before that price is seen again
The Question remains: Will it breakout and head up or breach the smaller trend line to head down ?
Keep an Eye.
The price has been consolidating in a range which is a sign that a breakout might be a good one.
Purely basing the trade on price action any breach should take the stock in the range of 2950-3000 again. 2850 looks like a final hurdle before that price is seen again
The Question remains: Will it breakout and head up or breach the smaller trend line to head down ?
Keep an Eye.
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