Unichem Labs
Loss making company turning profitable in the last quarter with both promoters ,FII/DIIs increasing their stake
Also, given a long term Gann level breakout
Very good RR WITH SL @ 550
UNICHEMLAB trade ideas
UNICHEMLAB VCP Pattern - Weekly chartUnichem Laboratories Ltd
NSE: UNICHEMLAB
A long VCP pattern is about to play in UNICHEMLAB.
Prior Breakout gave a sharp sell off which was absorbed and gave a decent immediate upmove with high volumes.
Contraction at the juncture; a strong close above 400 is a good buy with 270 as Stop and 680 as target.
buy unichemunichemlab has retest it breakout level. we may stock can rise till 360 till the time it holds 293 clbs
Unichem breakout buy unichemlab
sector pharma
sector- bullish yes
consolidation- done 5 months
breakout - done yes
200 ema-rising 30
RS - strong yes
volume- heavy c
bo level 273
buy level 275
buy date 6.10.20
bo day close 273
unichem--resistance zoneweekly chart suggest that we are in a strong resistance zone and share may take some time here and buy on dip near to 180 level or hold it with a stop of 177 for a target 216, 226 , 280 level
unichem buy in channel with sapport near to 180 and target of 210 to 218 and probably third wave to end near to that zone buy with a stop of 178.long term target of 250 to 260 for 5 th wave
Getting ready to Go loco after 211 ...Lower time frame on the 4hr looks like 177 is the recently established support , lets see how this develops may just get a chance to pick up on the touch of the short term uptrend line or test of the 200 day .
Would rather buy the flip of 196 than hop on now since it may take a few days and might give a better opportunity to buy lower .
US approval ! send it to 269?Quick look need the 200 day to be tested before we carry on the daily , however on the weekly the 99 day has been tested and 228 looks up next .
Going to keep an eye on this at present trying to flip 196 area into support.
Again this a Covid trade so shall enter if its appealing and comes anywhere near 165 since this should be front run or buy on the retest of 196.
Down trend since 2018 was broken a few weeks ago and tested so this i feel is going to carry on till at least till 269 once we cross this key level of 196. Which once broken this baby should fly .
Stop loss 159.65
shall post a LTF next lets see how likely to get the 163 remember sell the news so may get a opportunity.
