Torrentpharma
TORRENTPHARM NEAR BULLISH MOMENTUM VIEWThe price trading near weekly demand zone . A significant decline has been seen in the price and the price is now trading near the demand zone. so the price can takes rest from the decline and can move upwards from the support zone and RSI also taking support near 40 level which shows upward momentum of price.
If price respects this levels than price can move for their upper targets of 1560/1595+
#TORRENTPHARM 📊
👉Price at weekly support zone 1430📈📉
👉RSI at 40 support
👉Support seen at 1445/1450✅
👉Reversal sign📈
👉If holds then its can move for 1560/1595+🎯
👉Add to your watchlist👍
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad.
Torrent Pharma Torrent Pharma is looking good to go Long above 3300, all key levels are mentioned in chart along with stoploss and targets.
Overall look
Zoomed view
Weekly macd positive crossover and Uptick and also above zero line
Daily macd positive crossover and Uptick and also above zero line
Rsi in daily above 60 uptick
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing
Torrent Pharma Short Term ReversalThe stock has reached the lower trend line and might take support and undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed near 200 EMA & below support zone & the lower trendline. The target is placed near swing high.
Torrent Pharma - Looks to scale backMay be some news brewing or may be just the push for #NiftyPharma but torrent Pharma is all set to resume upwards journey with highly favourable risk reward ratio:
1. Closed above 23.6 percent fibo Retracement
2. RSI upturn from above 40 levels
3. Support line created for stop loss
Torrent pharmaHello !! torrent pharma is quite at all-time highs it just gave a very big up move on a day before last market day so it's more prone to be rangebound or a bit of retracement, if it doesn't break upper resistance and sustains a rangebound session can be seen but if it breaks the final resistance then it will be on the all-time highs so the target is difficult to give. #my_view #learner