Trendline support was broken.
Now the price is making a pullback to the broken trend.
Risk trade to sell closer to trendline.
Less risky to sell on break of the first trigger.
Target 38.
Lupin seems to be in a leading diagonal after a big flat correction with C=1.618*A. Hence it could continue to newer highs. Any move below the wave C low would negate the count.
On hourly chart, the price action breaks out from a consolidation that shall move prices to next resistance level of 865 levels.
Target 865
Stoploss: 830
ONTX Triple Bottom with increasing volume. I'm looking to be moderately conservative on this buy; the 38.2% Fibonacci level will act as a nice price target for this bullish play.
Viewing this chart, one can see that ONTX has been unable to sustain its gains above the 50% fibline, so you may be able to sell at that point, but as a low float stock anything can...
Wockpharma seems to have broken out of it's channel to the downside. Hence a move towards the LTL is possible.
IF there is an upmove (and a reversal) from the channel LTL (as shown by the arrows) then it'd be a great short. In general, up moves could be shorting opportunities.
An up move and a closing inside the channel could be a spoiler for this setup.
Mangalum Drugs seems to be ending it's downtrend. A close above the UTL could signal the start of the new impulse. It's likely that this impulse would lead it to new highs.
The wave 2 correction in Mangalam Drugs seems to have become a bit complex. Now it appears to be at a structural support. Also there is 61% Fib support. So it's likely that the up move could start.
Any move below wave 1 low would negate this setup.
Longer time frame. Decent risk reward ratio of 3x. LUPIN seems to be settling above 200DMA and the next resistance is at 1878. It should reach there in a month or so.
As per the observations, it has made a breakout from downward trending line on daily charts and also building a bull flag pattern. I would be expecting a breakout from current levels to reach target of 1850 levels.
Target 1: 1760 Target 2: 1800 Target 3: 1850
Stoploss: 1720
Auro Pharma seems to be starting a healthly uptrend. It's under consolidation now. Going long upon the upper trendline break could be a good idea. The safest entry would be on the break of the topmost trendline.
