TORNTPHARM trade ideas
TorrentPharmBuy after one hour closing above the resistance. you can give 50 points in this trade. don't go for options, trade only with cash. stoploss buy your own
Torntpharm breakout is doneBreaked its resistance and retest is also completed you can take entry after you get the confirmation in the chart
The institutional money is here-TORRENT PHARMAstill in the trading range, what looks like is phase c action, 2 tests of supply after a show Of strength last year which took out the top resistance of the trading range,
the second test was very interesting giving rise to a kind of morning star pattern, the middle candle was not that star , rather a gravestone doji, which is a reversal candle if found near support…
i like that the second test was met with climactic quality, the volumes increased compared to last year’s test, implying the weaker hands who had taken positions in the stock last year, have ben capitulated for the second time…
expecting a spring action which leads us to a phase d , where the previous upthrust high should be broken out to form the major sign of strength {SOS}and retested for a last point of support formation…
this scrip has been a favourites of the institutions, as evidenced by the relative strength curve…
never once dipped below the average, thoughout last 10years, and specially since 2016 when it went into a range…
a definite show of price support by the institutions/strong , i wont mind the valuations the stock continues to trade in, may be , the returns will be less, but should definitely reduce beta if we are going to have a volatile times…
disclaimer… NOT AN INVESTING/TRADING RECOMMENDATION
1065 Any pullback in good buy opportunity for 3 daysenter only at pull back otherwise it as entry not triggered. Sl compulsory
#TORNTPHARM Cup and Handle Breakout @anish_sharmaaa#TORNTPHARM Cup and Handle Breakout @anish_sharmaaa
View negated below 1595...
Torntpharmanow stock trading above downtrend channel we can see upside from support price of 1780 we can see 1900++ level.
Torrent Pharma at ResistanceTorrent Pharma is at a long term strong resistance. A short can be initiated with a stop & reverse above 1800. The risk to reward is extremely attractive. A break out hitting our stop loss would make for a strong rally, and a good long trade, recovering the SL.
TORRENT PHARMA reversal from crucial RESISTANCE ZONETORRENT PHARMA reversal from crucial RESISTANCE ZONE
Can take long if breakout happens from symmetrical triangleCan take long if breakout happens from symmetrical triangle
Torrent pharma may bounce from supportOn the daily chart Torrent Pharma is rising within a channel range + at a strong support level @1450-1460, from where it may bounce towards 1600 if the support holds.
