Pharma pick - 1 (2023)After a needed correction in almost all pharma stocks now seems ready for a good upmove from here..
Keeping aside the company buisness and finance but the technical analysis (chart) seems to be buy from here as :
Will add only 2/5 total investment and will further add on depending on stock performance
Script: Wockpharma
Cmp 172
TGT 300+
Time period: 12-15 months
Stop loss below 135
Later on sl can be trailed further
Note : This is my personal view and not any recommendation to buy or sell the stock mentioned here it's just for educational purpose.
WOCKPHARMA trade ideas
WOCKPHARMA - VOLUME BREAKOUT 📊 Script: WOCKPHARMA (WOCKHARDT LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: NIFTY PHARMA
📊 Sector: Healthcare
📊 Industry: Pharmaceuticals & Biotechnology
Key highlights: 💡⚡
📈 Script is trading at upper band of BB and giving Breakout.
📈 MACD line took slight support of signal line and giving bounce back and already in crossover.
📈 Already Crossover in Double Moving Averages.
📈 There is Volume Breakout.
📈 Right now RSI is around 76.
⏱️ C.M.P 📑💰- 263
🟢 Target 🎯🏆 - 293
⚠️ Stoploss ☠️🚫 - 242
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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Wockhardt Wockhardt broke the triangle on the downside on weekly chart closing below 384, which can show down levels of 372, 324, 276, & upto 209. Wave Structure is also suggesting Corrective phase, along with trend indicators alignment in same direction, Now the triangle may be an X wave unless we go above 384 and hold, also I'll mention that on the way upside, there is major resistance or hurdle at 405, closing above these areas will invalidate all bearish bias.
Overall wave structure could be like this
Key Levels are Mentioned on chart
Macd in daily Negative crossover and down tick below zero line
Macd in weekly Negative crossover and down tick below zero line
Macd in Monthly Negative crossover and down tick below zero line
Rsi in daily down tick and below 40 level
Rsi in Weekly down tick and below 40 levels
Lower bollinger band challenged in daily
Dmi adx also giving Negative power
Disclaimer
I am not sebi registered analyst.
My studies are Educational purpose only.
Please consult your Financial advisor before trading or investing.
Wockpharma Short term View#Consolidation Happening for long time
at strong support & Demand zone.
#RSI Divergence shows accumulation phase happening.
#Continuous Lower lows followed by consolidation
with Selling volume exhaustion.
Buy Wockpharma at 380-385 zone
Target 418, 450, 472++
SL 370
#Swing Trade #Positional
WOCK PHARMA SWING TRADEWOCK FINALLY SHOWING A BUY SIGNAL WITH A HIGHER LOW.. IT IS AN ATTRACTIVE LOCATION TO GO LONG. TAKING PARTIAL PROFITS AT 451 AND 569 WILL BE A GOOD IDEA. WOCK PHARMA IS IN WAVE 3 IN THE BIG PICTURE, CONSIDERING FOR LONG TERM HOLDING IS ALSO A GOOD IDEA. NOT A FINANCIAL ADVICE. when you consider to do swing trades always be defensive, small gains will add up. patience is key.
Wockhardt @SHORT
Wockhardt is a global pharmaceutical and biotechnology organisation, providing affordable, high-quality medicines for a healthier world. It is India’s leading research-based global healthcare enterprise with relevance in the fields of Pharmaceuticals, Biotechnology and a chain of advanced Super Specialty Hospitals.
WOCKPHARMA gives a breakout. Add to Watchlist.NSE:WOCKPHARMA
Aim for 5-10%. It can be easily achievable in 1-3 days.
My belief is to choose high winning probability trade with a risk-reward ratio going from 1:1 to 1:2.
The reason for booking profit of only 6-8% is because the market direction is not sure at this point. So better to aim for 1:1 risk-reward and rotate your money in better opportunities.
It is an analysis video. Take your decision on your own.
Take trade if all conditions meet at the end of the day 3:15-3:30 PM.
If you have any questions or suggestions, please leave a comment below.
I will personally reply to every single comment!
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Buy WockPharma above 408 SL 389 TGT 487Wock Pharma at very strong support . i used 4 hour time frame to analysis the above stock . entry and exit are based on P &F charts 1% box reversal method . why i choose the point and figure is the method give you exact price to enter and exit . please use stop loss .
Wockpharma buying time wockpharma channel breakout seen in last couple of days, price touched up to closest resistance level i.e 530 , now retracing from that level , presently at hovering near support level i.e. 486 ,can be picked up for long now for below targets ( * Price should cross price 530 level decisively)
1st target - 600
2nd target - 680
Go for long only if your logic permits