Current Market Price (CMP): ₹3245
Stop Loss (SL): ₹3180 (below recent swing low for risk management)
Timeframe: Daily/Weekly
Trade Type: Long (Buy)
Technical Analysis
Trend Analysis:
- TORNTPHARM is in a steady uptrend, supported by higher highs and higher lows on the daily chart.
- The stock is trading above its 50-day and 200-day EMAs, indicating bullish momentum.
Key Levels:
- Support: ₹3200–₹3180 (recent swing low and near 50-day EMA).
- Resistance: ₹3300 (psychological level and minor resistance), ₹3400 (previous high and key resistance zone).
- A breakout above ₹3300 could accelerate momentum toward ₹3400.
Indicators:
Chart Patterns:
- The stock is forming a bullish continuation pattern (consolidation near highs), with a potential breakout above ₹3250–₹3270.
- A strong close above ₹3250 could confirm the move toward T1 and T2.
Trade Setup
Entry: Buy at CMP ₹3245 or on a breakout above ₹3250 with strong volume.
- Target 1: ₹3300 (1.7% upside, short-term target).
- Target 2: ₹3400 (4.8% upside, medium-term target).
- Stop Loss: ₹3180 (1.9% downside risk, below support zone).
- Risk-Reward Ratio: ~1:2.5 (favorable for swing trading).
Rationale
- TORNTPHARM is benefiting from strong fundamentals in the pharmaceutical sector, with consistent revenue growth and positive market sentiment.
- Technicals indicate a continuation of the bullish trend, with ₹3300 and ₹3400 as achievable targets based on prior resistance levels.
- The stop loss at ₹3180 protects against a potential trend reversal or pullback to stronger support.
Risk Management
- Position size: Limit risk to 1–2% of capital based on the ₹65 stop loss (₹3245 - ₹3180).
- Monitor for high volatility around key resistance levels (₹3300 and ₹3400).
- Exit if the stock breaks below ₹3180 on a daily close or shows signs of bearish divergence on RSI/MACD.
Additional Notes
- Sector Context: The Indian pharma sector is showing resilience due to export growth and domestic demand. TORNTPHARM’s strong product portfolio supports the bullish outlook.
- News Catalyst: Keep an eye on quarterly earnings or regulatory updates that could impact price movement.
- Time Horizon: 2–4 weeks for T1, 4–8 weeks for T2, depending on market conditions.
Disclaimer: This is not financial advice. Conduct your own research and consult a financial advisor before trading. Past performance does not guarantee future results.
- Target 1 (T1): ₹3300
- Target 2 (T2): ₹3400
Stop Loss (SL): ₹3180 (below recent swing low for risk management)
Timeframe: Daily/Weekly
Trade Type: Long (Buy)
Technical Analysis
Trend Analysis:
- TORNTPHARM is in a steady uptrend, supported by higher highs and higher lows on the daily chart.
- The stock is trading above its 50-day and 200-day EMAs, indicating bullish momentum.
Key Levels:
- Support: ₹3200–₹3180 (recent swing low and near 50-day EMA).
- Resistance: ₹3300 (psychological level and minor resistance), ₹3400 (previous high and key resistance zone).
- A breakout above ₹3300 could accelerate momentum toward ₹3400.
Indicators:
Chart Patterns:
- The stock is forming a bullish continuation pattern (consolidation near highs), with a potential breakout above ₹3250–₹3270.
- A strong close above ₹3250 could confirm the move toward T1 and T2.
Trade Setup
Entry: Buy at CMP ₹3245 or on a breakout above ₹3250 with strong volume.
- Target 1: ₹3300 (1.7% upside, short-term target).
- Target 2: ₹3400 (4.8% upside, medium-term target).
- Stop Loss: ₹3180 (1.9% downside risk, below support zone).
- Risk-Reward Ratio: ~1:2.5 (favorable for swing trading).
Rationale
- TORNTPHARM is benefiting from strong fundamentals in the pharmaceutical sector, with consistent revenue growth and positive market sentiment.
- Technicals indicate a continuation of the bullish trend, with ₹3300 and ₹3400 as achievable targets based on prior resistance levels.
- The stop loss at ₹3180 protects against a potential trend reversal or pullback to stronger support.
Risk Management
- Position size: Limit risk to 1–2% of capital based on the ₹65 stop loss (₹3245 - ₹3180).
- Monitor for high volatility around key resistance levels (₹3300 and ₹3400).
- Exit if the stock breaks below ₹3180 on a daily close or shows signs of bearish divergence on RSI/MACD.
Additional Notes
- Sector Context: The Indian pharma sector is showing resilience due to export growth and domestic demand. TORNTPHARM’s strong product portfolio supports the bullish outlook.
- News Catalyst: Keep an eye on quarterly earnings or regulatory updates that could impact price movement.
- Time Horizon: 2–4 weeks for T1, 4–8 weeks for T2, depending on market conditions.
Disclaimer: This is not financial advice. Conduct your own research and consult a financial advisor before trading. Past performance does not guarantee future results.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.