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ERIS has broken above the handle's resistance with a powerful candle, and this upward move is backed by strong volume. It could reach the target soon.
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Eris Lifesciences Ltd. is presently engaged in manufacturing and marketing of pharmaceutical products. It has presence in high growth chronic, sub chronic and acute therapeutic areas that require high intervention of specialist and super specialist doctors. Apart from this, it has a portfolio of 112 Mother Brands across therapy areas. Eris Lifesciences Ltd CMP is...
#ERIS in bullish trend from last few weeks been in sideway and now getting ready to break consolidation and trending again, Stock in bullish rectangle pattern and if it break above the range with volume only then we enter in trade.....
*Eris Lifesciences Ltd.*
C&H Formation on Yearly Basis.
C&H Price Trendline BreakOut. Should Sustain.
Major Resistance at 820/849. Once Crosses / Sustains. Then Good to Go.
RSI: 1H < D>W>M
Note: Promoters Pledge at 11.4%
Forayed in Dermatology in FY22.
Acquired Domestic Formulations business of Strides.
Acquired Brands from Glenmark & DRL.
Spike in Debt.
Trail...
Reason for long
a) Triangle breakout
b) weekly and monthly higher breakout
c) channel breackout possible
Global cues positive
nifty also positive
hence expecting 3 to 7% upside move
SL compulsory
Duration till this month end
The stock is forming Cup and Handle pattern on charts and if we take handle to complete as our target then it's almost 10-12% returns, which I expect it to give in around 2 months time.
If you can keep the stock for short to medium term then you can even see the stock hitting 4 digit mark.
The fundamentals of the company is good. Though the promoters have...
The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below the support zone & the lower trendline. The target is placed near resistance.
The stock has reached lower trendline and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the lower trendline. The target is placed near resistance.
Market is bearish, so take positions carefully.
ERIS Life Sciences was first given at 644 it went upto 861.95 and has corrected substantially there after. Fresh entry above 734 closing Targets 768. 768 will be a major resistance. Crossing 768 the price can go to 795 and 815 levels.
Thus X/2 entry can be taken in the counter at 734 closing and X/2 after closing above 768.
Stop Loss should be at closing below 670.
The stock has reached lower trendline and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the lower trendline. The target is placed near resistance.
A complete analysis explained in video
Not a trading advice- We are not sebi registered analyst- Kindly make your analysis and consult your financial advisor
