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📊 **Syngene International Ltd. - Head & Shoulders Pattern Breakdown** 💡
🔍 **Pattern**: Head & Shoulders (Bullish Breakout)
- 👕 **Left Shoulder**: Price forms a peak.
- 🧢 **Head**: A higher peak, followed by a decline.
- 👕 **Right Shoulder**: A lower peak, matching the left shoulder.
💥 **Breakout**: The price broke **above the neckline** (₹860), signaling a bullish reversal 🚀!
📈 **Last 5 Candles**:
1️⃣ Big green candle 📈 — Strong buying momentum!
2️⃣ Continued rise 📉 — Steady upward pressure.
3️⃣ Smaller candle 🔼 — Trend continues.
4️⃣ Small pause 💬 — Brief consolidation.
5️⃣ Another spike 📊 — Bulls taking over with high volume!
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🔑 **Target**:
🟢 **₹1,094** (Measured move from head to neckline projected upwards)
🔐 **Stop-Loss**:
🔴 **₹843-₹845** (2% below the neckline for safety)
📢 **Summary**:
🔥 Bullish breakout confirmed with volume spikes!
🎯 Target ₹1,094 📊 | 🛑 Stop-loss at ₹843.
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SYNGENE
#SYN/USDT#SYN
The price has been moving in a downward channel since June 2022
Due to a strong support area at 0.2850
We are about to break the downtrend supported by oversold conditions on the MACD
Current price 0.4166
The first goal 0.7922
Second goal 1.0500
Nearly 240% of the current price
Powered by the Moving Average 100 breakout.
And break the reversal patterns to the upside.
MAY RISK 2.5% IN NSE:SYNGENE INTERNATIONALwhenever a stock rally near or at ATH never look for the retracements instead look for valid pullbacks , so, by which can join the rally. Here, NSE:SYNGENE is given an opportunity to participate in the rally by risking 2.5% for the gain of 8.5% or even more and can enter the trade above 28/08/2023 candle's high by placing strict stoploss below the candle's low.
SYNGENE is forming channel patternNSE:SYNGENE midcap stock is forming channel pattern for a year.
Clear rejection from channel's resistance 2 days back, so entry need to be tried after strong breakout.
Pros:
Consistent increase in revenue & profit
Negligible debt
FII & DII increasing stake
Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.
Profits are not made from following ideas, but by following Risk Management .
Syngene - Wyckoff Accumulation + Mark upA bit late to the party!
Key highlights:
⚡️ Wyckoff accumulation schematic
⚡️ Range breakout
⚡️ Bullish market structure
⚡️ Volume expansion
A logical setup is to enter on the retest of range high or the previous supply zone (now a demand zone).
Stoploss : 560
Target : 650, 680+.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
Syngene ReversalThe stock has reached lower trendline and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the lower trendline. The target is placed near resistance.
Market is bearish, so take positions carefully.
SYNGENE - bullish flagSector: Pharmaceuticals
Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln
52 week High / Low: 700 / 490.50
P/E ratio of 62.16
Resistance: 634-645-662
Support: 605-588-577
Look for buying opportunities around 633 for a Target of 686 with a stop loss of 616
Upper Circuit 685.30
Lower circuit 560.70
Syngene is trading above its 9, 20 and 50 EMA mark.
This is a short term view call.