The stock has reached the lower trend line and might take support and undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed near 200 EMA & below support zone & the lower trendline. The target is placed near swing high.
May 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
Hello !! torrent pharma is quite at all-time highs it just gave a very big up move on a day before last market day so it's more prone to be rangebound or a bit of retracement, if it doesn't break upper resistance and sustains a rangebound session can be seen but if it breaks the final resistance then it will be on the all-time highs so the target is difficult to...
RSi is above 50 and closed above its 10 days high
Buy Above 2377.95 (2385.78 to 2387.25 is strong resistance zone and if broke with volume can go high)
First Target 2397.26
Second Target 2414.56
Sell Below 2375.2 (This is CPR level if stock open up but no strength then can go for sell)
First Target 2365.49