TORNTPHARM CMP 2395 - Promising SL - 2326
The chart speaks for it self above 2406 i get more confidence.
To all the new ppl in the market. Why are you scared about the price action in the stock ?
A : relax and watch live charts/ read them try with 20 of them daily monitor them. it is not rocket science. Dont run on trades here and there. dont follow wrong mentors who dont know anything them selves. try reading what is RSI , ADX , Fibonacci lines how they work.
Fibbo lets u understand where the resistance and support of a stock is, its derived based human behavior/psychology etc. everything on earth is made based on fibbo .
TORNTPHARM trade ideas
Torrent Pharma Reversal TradeTorrent Pharma is forming AB=CD Extension pattern with 2.618 FIB Reversal and XABCD Pattern 1.618 FIB Reversal Zone.
The Possible set up would be to go log above 2350 with 2325 as SL. The beauty of the harmonic patterns are if allows you to catch the reversal from bottom or top with very little SL So we have nice R:R in swing setup.
We are targeting 2400 and 2425ish.
Torrent Pharma @perfect levelsTorrent Pharma
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
Second Target 2353.52
Disclaimer: Levels above are based on mathematical calculations and individual to take trade trade on Personal responsibility or financial advisor.
#TORNTPHARM | NSE | 1H | SHORT01) Wolfe Wave ( Bearish )
02) Price near Horizontal channel top
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Note : 1) Wait for complete Wolfe wave and then find reversal point for entry.
Note : 2) This study for educational purpose only.
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Your likes on my ideas motivate me.
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Twitter - @bagade_arvind
Buy Torrent Pharma | Expected Profit 6-8%Goodluck Capital Recommendation
Buy Torrent Pharma (NSE: TORNTPHARM)
Buy Range - 2460-2490
Target - 2620-2680
StopLoss* - 2430
Duration 8-10 trading days
Potential Return^ 6-8%
Risk : Reward = 1/3
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 1483.
^ Potential returns are calculated based on the median of buy range.
TORRENT PHARMA ::: BEARISHINSTRUMENT: TORRENT PHARMA
TYPE: F&O
TIME FRAME: 1HR
TREND: BEARISH
PSAR: CONFIRMING BEARISH TREND
STOCHASTICS: CONFIRMING BEARISH TREND
SELL BELOW: 2256
SL: 2273
TGT 01: 2208
TGT 02: 2189
Technical analysis on FOREX and INDIAN MARKETS. We are not SEBI REGISTERED ANALYSTS The views expressed here are for our record purposes only. Please consult your personal financial advisor before investing. We are in no way responsible for your profits/losses what so ever.