ZYDUSLIFE Weekly UpdateZYDUSLIFE seems to be stable on the current 985-990 levels.
Things to watch carefully for Long trades.
Long Trade entry :
Entry Trigger : 1011
Stop Loss for target 1 : 977
First Target : 1044
Second target : 1068
Third target: 1130
Last target: 1211
Note: Consider each target for exit of the hold position and re- enter after 3%(Approx.) drop. this will maximize the re-entry position and the profits.
Exit for sure On last target as 2-3 Month or retracement would possibly come after this point.
Trade Updates would be shared on this on every Friday
Zyduslifelong
#ZydusLife making Head&shoulder pattern,12% upmove dega kya? Zyduslife on daily time frame has made pattern based on popular shampoo brand "Head & shoulders". Or it can be called as cup n handle also. If we calculate depth of the pattern then upmove of 12%, above 670 looks achievable. I have gone long at the retest of breakout level at 675. Once 730 is achieved I will book 2/3rd qty and for the remaining qty will pust cost SL so there is no risk in the trade. Let's see if this stock gives me my targets or not
{ZYDUS}:{DETAILED ANALYSIS USING ELLIOT WAVE NOMENCLATURE}
Wave 1 is complete, Here the Wave 1 is a Leading Diagonal which tells us the Wave 3 will be way stronger than what we come accross generally;
Wave 2 has retraced Wave 1 by 61.80% which is a Golden Ratio and Fibonacci goes perfectly with the Waves logic,
Now Wave 3 is forming
According to the Fibo Ext tool we have the 1.618 Golden Level giving us the Target for ZYDUS on the Long Run.
This Analysis is done in the Higher Timeframes so consider the time accordingly only,