Loss making company turning profitable in the last quarter with both promoters ,FII/DIIs increasing their stake
Also, given a long term Gann level breakout
Very good RR WITH SL @ 550
Unichem Laboratories Ltd
NSE: UNICHEMLAB
A long VCP pattern is about to play in UNICHEMLAB.
Prior Breakout gave a sharp sell off which was absorbed and gave a decent immediate upmove with high volumes.
Contraction at the juncture; a strong close above 400 is a good buy with 270 as Stop and 680 as target.
weekly chart suggest that we are in a strong resistance zone and share may take some time here and buy on dip near to 180 level or hold it with a stop of 177 for a target 216, 226 , 280 level
in channel with sapport near to 180 and target of 210 to 218 and probably third wave to end near to that zone buy with a stop of 178.long term target of 250 to 260 for 5 th wave
Lower time frame on the 4hr looks like 177 is the recently established support , lets see how this develops may just get a chance to pick up on the touch of the short term uptrend line or test of the 200 day .
Would rather buy the flip of 196 than hop on now since it may take a few days and might give a better opportunity to buy lower .
Quick look need the 200 day to be tested before we carry on the daily , however on the weekly the 99 day has been tested and 228 looks up next .
Going to keep an eye on this at present trying to flip 196 area into support.
Again this a Covid trade so shall enter if its appealing and comes anywhere near 165 since this should be front run or buy on the retest of...
