One of the biggest wealth generator of 2020 has been in a sideways direction, although stronger than overall pharma sector, is back at the demand zone of 335-345. Initiating longs here can give favourable RR for traders.
Market is volatile and trade with caution.
Stock recently broke out of long consolidation and back to demand zone. Can initiate longs and pyramid above recent swing high. Very favourable RR hereon.
Trade with caution as markets are very volatile.
Price is again retesting a 2 year price range and a breakout above this can see 110/130 in short term. Do keep in your watchlist and observe the price/volume action before taking any decision with proper risk management.
Price has been consolidating in a narrow range for over 4 weeks. Stock can be considered in a pullback phase as suggested by the low volumes and holding of the previous breakout area. Company has been reported fantastic quarterly earnings which has been well received by the market participants. Outside the consolidation area, stock can see 310/350 in short term....
NBFC and BFSI are looking good now since the asset related issues from the Covid seems to have been addressed. Can enter here for targets of 110/150 for short term play. Today's breakout was accompanied with high delivery volume and trading volume.
The above is for educational purpose only and not a recommendation to buy/sell.
Price has tested 470-480 multiple times in the past 18 months and is currently in the consolidation phase / sideways Volume activity has been dry for few weeks which indicates either no interest in counter or silent accumulation. I am inclined towards silent accumulation as delivery percentage has been higher than average in the last week and significantly higher...
