The Indian Pharmaceutical space is on a strong upward momentum with stock breaking out above ATH and continuing the strong upward rally. The stock seems to be a good buy in the range of Rs 252 for target Rs 282
I have positions from lower levels Added more today. Break of daily level, ATH with strong daily candle.
Stock Has been resisting 175-180 zone , since late Feb 2020. Now stock is again trading near those levels, hence any decisive breakout can take stock 220 -240 levels. The said view will be negated below 145 levels.
Everything Provided in the chart
The stock is currently trading within a Bullish BAT and a Bullish Butterfly Pattern. Excellent confluence levels of both the patterns in marked PRZ. Awaiting for price to come within the zone and then on basis of price action, we can get a lovely long trade.