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Ipcalabanalysis

IPCA LABORATORIES : Potential Harmonic Reversal The idea here is about Ipca Laboratories: Ipca Laboratories Ltd is a fully-integrated Indian pharmaceutical company manufacturing over 350 formulations and 80 APIs for various therapeutic segments. 1. Bullish Cypher pattern completed on a daily chart potential trend reversal expected. However, if the trend continues downward then the pattern is nullified. Out of Falling wedge trend at the moment. 2. What is Cypher Pattern? Explained in the below image: 3. Double top completed and currently looks like a Double bottom pattern under formation as per chart at the time of publishing. 4. Trading way below 20 & 200 EMA on Daily chart & between 20 & 200 EMA on a weekly chart. 5. Ichimoku Cloud analysis: Kumo Breakout & Kumo Twist on a daily, Weekly chart is Strong bearish & Strong Bullish on monthly chart. 6. RSI is at 30.37 on a Daily Chart at the time of publishing. This indicates almost oversold at the time of publishing. 7. MACD below signal line on daily chart, and converging towards signal line. 8. Hull Moving average on a daily & monthly is sell & on a weekly chart is a buy. 9. Wait for trend reversal & retest may be for long entry (short term). However, keep in watch list for the week & alert for price momentum. Projected targets as per Cypher Pattern provided in the chart. Stop Loss: Provided in chart as per Cypher pattern. Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”. Do you like my TA & ideas!! Want to keep yourself updated with current market action? Then don’t forget boost & to subscribe for more analysis. Do leave your valuable feedback & comments for any improvisations. Cheers.
NSE:IPCALAB
by Tron029
IPCALAB - Bullish engulfingA bullish engulfing candle has been formed on the daily time frame suggesting a good move in the upward direct is very much possible. There is a good consolidation zone being formed and a breach of the zone(resistance) would surely give a good upward movement in this counter. For buying the stock should be trading above the levels of 1069 and on the other hand if prices fall below 1056 we could see support areas. Do not look at the huge red candle as that was the stock split. Above the zone any big buying that happens will take the price up. All the best Your feedback is highly appreciated
NSE:IPCALABLong
by ruelfernandes