Zydus forming a base after a fall. Offers Good RR.
Key Levels:
Support Zone:₹915.75 is the critical support level, below which the trend could turn bearish.
Entry Level:₹1,012.65 is the suggested entry point, marking a potential breakout above the consolidation zone.
Targets:T1: ₹1,091.95 (short-term target).
T2: ₹1,159.65 (medium-term target).
T3: ₹1,323.20 (long-term target).
entry-level
The stock has been in a consolidation phase (rectangle area) and is now attempting a breakout.
Sustaining above the entry level with volume will confirm the bullish trend.
Moving averages indicate that the stock is approaching a recovery phase but needs to hold above key levels.
Risk Management:
Stop Loss: Place below ₹915.75 to manage downside risk in case of a false breakout.
Next Steps:
Wait for confirmation of a breakout above ₹1,012.65 with volume.
Monitor price action near ₹1,091.95 (T1) to decide on partial profit booking or trailing the stop loss.
Watch for the overall market trend before entering. Chart shared only for educational purposes only.
#Zydus #StocksToBuy
Support Zone:₹915.75 is the critical support level, below which the trend could turn bearish.
Entry Level:₹1,012.65 is the suggested entry point, marking a potential breakout above the consolidation zone.
Targets:T1: ₹1,091.95 (short-term target).
T2: ₹1,159.65 (medium-term target).
T3: ₹1,323.20 (long-term target).
entry-level
The stock has been in a consolidation phase (rectangle area) and is now attempting a breakout.
Sustaining above the entry level with volume will confirm the bullish trend.
Moving averages indicate that the stock is approaching a recovery phase but needs to hold above key levels.
Risk Management:
Stop Loss: Place below ₹915.75 to manage downside risk in case of a false breakout.
Next Steps:
Wait for confirmation of a breakout above ₹1,012.65 with volume.
Monitor price action near ₹1,091.95 (T1) to decide on partial profit booking or trailing the stop loss.
Watch for the overall market trend before entering. Chart shared only for educational purposes only.
#Zydus #StocksToBuy
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