TORNTPHARM trade ideas
torrent pharma broken long term resistance ( Bull Call Spread)mildly bullish on the stock after the breakout
bull call spread can be initiated with {{buy 2700CE @ 143}} and {sell 2800CE @94}
cost of initiation 12k for a target of 12700. further quantity can be added once 2800 is broken
Torrentpharma - heavily bullishTorrentpharma gave swing breakout with positive rsi and macd. A huge volume show something is behind all this, My fav scrip for few days, lets see how it reacts. Targets on chart...
#TORRENTPHARMAThis highly under-rated pharmaceutical stock breaking out this week from very narrow consolidation happening since past couple of months. Could break its ATH in this rally. Let's see.
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
Torrentpharma Support and resistance Torrent pharma descending triangle pattern on a hourly chart. It is near its support. If broken can give good short move
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
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The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!
#TorrentPharmaNSE:TORNTPHARM was consolidating for a good time. The Falling Wedge Pattern is broken and we might see a good upmove since higher TFs are bullish.
Retest with Dragon FlyTorrent pharma has retest and created a dragon fly on daily chart. Good for going long for 20% gain
Torrent Pharma Analysis - 02-02-2020Torrent Pharma is in a good Uptrend.
Profit Target - Around 2,111
Stop Loss - Below 1,688
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.
