Positional Trading Setup for SMS Lifesciences (NSE)Price Action:
Current Price: ₹1,435.20 (+13.02% today)
Recent Range: ₹1,270 (L) – ₹1,519 (H)
Strong breakout above ₹1,400 resistance (now support).
Indicators:
Supertrend (10,3): Bullish (Green line) – Confirms uptrend.
TEMA (5.9,20): Rising – Momentum favors bulls.
Volume: Spike on upside move (not shown but implied by 13% rally).
🎯 Positional Trade Plan:
✅ Entry:
Buy Zone: ₹1,400-1,430 (Pullback to breakout level).
Confirmation: Close above ₹1,450 with volume.
🛑 Stop Loss:
₹1,300 (Below recent swing low & Supertrend support).
Risk: ~7-8% from entry.
🎯 Target:
Short-Term (1-2 weeks): ₹1,550 (Previous high).
Positional (1-3 months): ₹1,700-1,800 (All-time high zone).
📊 Risk-Reward: 1:3 (₹100 risk vs. ₹300+ reward).
💡 Trading Notes:
Trend Bias: Bullish (Supertrend + Higher Highs/Lows).
Watch For:
Profit-booking near ₹1,500-1,520.
Close below ₹1,400 invalidates setup.
Sector Tailwind: Pharma stocks showing strength.
