CONCORDBIO trade ideas
CONCORD BIOTECH LTD S/RSupport and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory.
Combining RSI with Support and Resistance:
Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal.
Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
WAIT FOR RANGE BREAKOUT....NSE:CONCORDBIO trade at 1665 level. Support is at 1600. Resistance is at 1800.
After breakout you can watch it next resisstance at 2100.
concord Biotech LTDPicture this: Concord Biotech Ltd, a stock showing promising signs of strength. The volume is buzzing, and it's near a resistance level. It needs to spend some time there before I initiate a buy entry.
Swing Trade In Concord NSE in 1Day TFSwing Trade In Concord NSE in 1Day TF.
Technical Analysis
The stock has reached an all-time high, surpassing its recent resistance level. Additionally, there are two levels of contraction observed in its performance.
1st Contraction is around 13.71%
2nd Contraction is around 06.10%
Target 10%
SL 5%
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Fundamentals
Date(Transcript ) EPS %Chg Sales(Cr) %Chg
Sep-23 8.08 262.3
Jun-23 4.63 194.8
Mar-23 22.76 33% 853.2 20%
Dec-22
Sep-22
Jun-22
Mar-22 17.07 -93% 712.9 16%
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EPS Growth Rate N/A
Earnings Stability 99
P/E Ratio 57
5-Year P/E Range 43- 45
Return on Equity 18%
Cash Flow (INR) 23.51
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Major Shareholders
Investor Name
Sep-23
Sudhir Vaid 28.84%
Manju Vaid 9.55%
Nishtha Jhunjhunwala Discretionary Trust 8.03%
Aryaman Jhunjhunwala Discretionary Trust 8.03%
Aryavir Jhunjhunwala Discretionary Trust 8.03%
1575773 Ontario Inc 5.39%
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BIG PLAYERS HOLDING
Sep-23
Promoters 44.08%
Mutual Funds 5.58%
Insurance Companies 2.26%
Foreign Portfolio Investors 7.3%
Individual Investors 6.78%
Others 34.00%
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Concord bio may test 1450Good volume
Maybtest new high
Target 1450
Stop 1350
Posted good sept quarter numbers
