📊 Chart Overview
Current Price: ₹1,730.80
Day's Range: ₹1,670.50 – ₹1,739.90
Recent Trend: Strong uptrend from around ₹1,200 to above ₹1,800, followed by a short-term pullback.
🔍 Key Levels (marked on chart)
Support 1: ₹1,673.30
Current Zone: Around ₹1,730 – price currently testing this zone
Resistance 1: ₹1,862.90
Resistance 2: ₹1,989.75
📈 Technical Signals
Bullish Momentum: Strong upward movement recently with increased volume indicates strong bullish interest.
Pullback Testing Support: After hitting ₹1,862.90, the price has pulled back and is now stabilizing near the ₹1,730 support zone.
Volume Spike: Recent volume suggests accumulation; however, the red volume bar during pullback should be monitored for weakness.
Candle Structure: Small-bodied candles in the pullback zone hint at indecision—watch for a bullish reversal candle near ₹1,730 or ₹1,673.
✅ Buying Strategy Suggestion
Scenario 1: Conservative Entry
Wait for breakout above ₹1,862.90 with strong volume
Buy on retest of ₹1,862 or during breakout candle
Target: ₹1,989.75+
SL: Below ₹1,730
Scenario 2: Aggressive Entry (Current Price Zone)
Buy near ₹1,730 with stop-loss below ₹1,670 (next support)
Target 1: ₹1,862
Target 2: ₹1,989.75
⚠️ Risk Considerations
Avoid entry if the price breaks below ₹1,670 with volume (could trigger deeper correction).
Watch broader market sentiment as it may affect pharma stocks' movement.
Monitor news/announcements related to the company.
Current Price: ₹1,730.80
Day's Range: ₹1,670.50 – ₹1,739.90
Recent Trend: Strong uptrend from around ₹1,200 to above ₹1,800, followed by a short-term pullback.
🔍 Key Levels (marked on chart)
Support 1: ₹1,673.30
Current Zone: Around ₹1,730 – price currently testing this zone
Resistance 1: ₹1,862.90
Resistance 2: ₹1,989.75
📈 Technical Signals
Bullish Momentum: Strong upward movement recently with increased volume indicates strong bullish interest.
Pullback Testing Support: After hitting ₹1,862.90, the price has pulled back and is now stabilizing near the ₹1,730 support zone.
Volume Spike: Recent volume suggests accumulation; however, the red volume bar during pullback should be monitored for weakness.
Candle Structure: Small-bodied candles in the pullback zone hint at indecision—watch for a bullish reversal candle near ₹1,730 or ₹1,673.
✅ Buying Strategy Suggestion
Scenario 1: Conservative Entry
Wait for breakout above ₹1,862.90 with strong volume
Buy on retest of ₹1,862 or during breakout candle
Target: ₹1,989.75+
SL: Below ₹1,730
Scenario 2: Aggressive Entry (Current Price Zone)
Buy near ₹1,730 with stop-loss below ₹1,670 (next support)
Target 1: ₹1,862
Target 2: ₹1,989.75
⚠️ Risk Considerations
Avoid entry if the price breaks below ₹1,670 with volume (could trigger deeper correction).
Watch broader market sentiment as it may affect pharma stocks' movement.
Monitor news/announcements related to the company.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.