ZYDUSLIFE trade ideas
ZYDUSLIFE LONG (INTRADY NOV 7)Hello TradingView community and my followers, please if you like the ideas, don't forget to support them with likes and comments, thank you very much and here we go.
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ZYDUSLIFE is in uptrend on daily level and in 15 min it has made Ascending triangle pattern. now on breakout it could move upside. Thank You !
ZYDUSLIFE is nearing channel's supportNSE:ZYDUSLIFE midcap scrip is trading in a channel pattern for 5 months.
Now its trading near is support, confirm strong bounce with high delivery volume.
Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.
ZYDUS LIFESCIENCES Parallel Channel Pattern Breakout*ZYDUS LIFESCIENCES*
Time Frame : Daily
Observation:
* Parallel Channel Pattern Breakout on Daily time frame
* 380 Swing High Break
* Mean (EMA) Diversion on Hourly time frame.
Resistance/Target: 401 420 452 486
Support: 350 329; Dynamic Support for EMA 200 on Hourly Time Frame.
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ZYDUSLIFE - Bullish ReversalNSE:ZYDUSLIFE was trading in a downtrend from July 2021 to May 2022 until it stopped making lower lows. It traded in sideways (accumulation phase) for past 3 months and finally broke out of sideways price action recently. Let's take a deep dive to understand the trading opportunity in ZYDUSLIFE.
Multi timeframe analysis -
Weekly TF(Higher timeframe) -
Below chart shows the price structure change from LH-LL to HH-HL in weekly TF. We are also getting additional trend change confirmation using a RSI technical indicator. RSI is showing bullish divergence.
Daily TF(Trading timeframe) -
We are able to see the similar price structure and bullish RSI Divergence in daily TF.
Zooming into sideways price actions, Presence of supply had been seen between 370 and 375. Price was rejected from this supply zone multiple times until it absorbed all the supply and did a breakout. There was a significant volume in the breakout candle which indicates the presence of demand (supply zone is now turned into demand zone). At present the price has retraced back to the breakout level (demand zone).
45 minutes TF(Lower timeframe) -
Looking into 45 minutes timeframe, We are seeing two bullish signs.
1) Price reversal from demand zone with a good volume
2) Bullish RSI Divergence
As per the above analysis, we may see a bullish reversal price action for short term. Once 400 price level is breached, the next supply zone is around 450.
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Zydus Life : Breakout of Multiple Bottom / Symmetrical TriangleBest to play for long term until you see Lower Low Wave. After T3 i.e 442 it may travel uncharted territory for sure.
Note : Please do your own research / consult your investment advisor, I am just sharing my learnings for expert opinion and no buy call.
Zyduslife Base Formation Breakout A clear base formation breakout with strong volume confirmation only weekly as well as daily timeframe. Expecting good up move from current level at least till levels of 450-480 in upcoming months. Stop loss below the recent swing 360-350. View as per my analysis I have every right to be wrong not a stock recommendation.
Zydus Lifescience testing Historic ResistanceZydus Life-science at important level of resistance,
the stock took support from historical support zone and has consolidated the down fall with a good stretch of time. It has gone through a good accumulation and has made a good support base.
now the stock has positioned itself to an up move after making series of higher lows from support zone.
the stock has tested historical resistance multiple times during this consolidation.
the stock has given an impressive quarter results beating the estimates. which is the catalyst for the movement.
targets mentioned on the chart is based on fib levels taken from previous high to low levels.
the volume popup is supporting the price action
the stock may retest the B/O and a successful B/O will give a handsome gains with 1:1.4 risk reward.
Tgt 2 is for a medium to long term view.
this is not a call / recommendation.
Please do your own research and drop your inputs in the comment section.
Zydus lifesciences - positional longStock took support from a very long term support range and now giving a breakout from 7 months consolidation range. Volumes are also good recently. Stock is about to outperform nifty that could trigger a descent up move in short term.
Positional targets are 406, 450, 490.
Proper stop loss for positional trades will be below 330 on daily closing basis, Short term traders can keep stop loss when daily closing comes below the upward trading line.
UPTREND CHANNEL LINE ANALYSIS ON ZYDUSLIFE 24.07.22BUY : 320 TO 280
TARGET : 717 TO 747
Reason For Buying This Script :
In this stock the price is going on uptrend channel line. Now price is coming to support of the channel line. try to accumulate above given levels.
Note :
Above given levels are based on monthly & weekly time frame . So be patience it will take some days to achieve the target.
ALL THE BEST ..