TORNTPHARM trade ideas
TORRENT PHARMA - CUP & HANDLE Pattern - Intraday/Short TermThis analysis is purely based on price action and Chart Patterns.
The analysis is on 15min TF hence target can be achieved in intraday trade or in couple of days
Trade strategy is explained in image itself. Don't chase the price.
Always plan your trade & trade your plan
Keep trailing SL accordingly once entered into the trade.
Trade at your own risk and money management. Do your own study before taking any trade
Feel free to comment for any queries & suggestion
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
Torntpharma - ShortTornt Pharma CMP - 2609.90
Looking bearish in higher time frame. One can go for Intraday Trade setup with the following entry, exit & targets
Sell at or Below 2601 / Stop Loss 2614
Target 1 - 2590
Target 2 - 2580
Target 3 – 2570 / 2560
Disclaimer: This is my view and for educational purpose only.
TORNTPHARM LOOK OUT FOR THESE LEVELS!!! ALL THE LEVELS AND PATTERNS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE .
SELL AT 2589
The indicator used:
1) Daily Lines plots Daily 20 (BLACK) & 50 EMA (GREY) on lower time frame charts
2) TE-REKAB
- PB : PULLBACK
If you like the analysis, do leave a like and follow for more such content coming up.
The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!
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.
TORRENT PHARMANSE:TORNTPHARM
LAST TIME WHEN IT WAS GIVEN AS A SHORT, IT DID GIVE 100 PTS MOVE
NOW ONCE AGAIN IF THIS ONE BREAK 2680 AND SUSTAINS, THEN ITS HEADING TO 2650, AND 2635
ELSE IF REVERSES FROM 2680, THEN MIGHT MOVE TO 2720
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Hi all,
Its pleasure to have you all here.
I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side.
Few Honest Disclosures:
1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please
do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity.
4. To trade in Cash, options or futures is your sole choice and your own risk
5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts.
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