Zydus Wellness - Bearish Bias - Can Short at current levels.
Ready for the next round. An inverted H&S on the cards. Seems the Heinz acquisition for 4900 cr, playing up and market is factoring that. Long can be seen above the neckline 1777 INR.
ZYDUS WELLNESS - LTP 1340/-RS BUY ZYDUS WELLNESS TRADING ABOVE ITS SHORT TERM RESISTANCE LEVEL @ 1316/-RS TREND TURNS TO POSITIVE WITH ABOVE 20D/50D AVG VOLUME OBV INDICATOR - TURNS TO POSITIVE STOP LOSS 1287/-RS PROFIT TARGET - 1600/-RS IN NEXT 6 MONTHS
Standard OTE play, weekly SRSI is already bottomed, will look for a local bottom on the hourly timeframe when it gets below 705.