Zydus Life-science at important level of resistance, the stock took support from historical support zone and has consolidated the down fall with a good stretch of time. It has gone through a good accumulation and has made a good support base. now the stock has positioned itself to an up move after making series of higher lows from support zone. the stock has tested historical resistance multiple times during this consolidation. the stock has given an impressive quarter results beating the estimates. which is the catalyst for the movement. targets mentioned on the chart is based on fib levels taken from previous high to low levels. the volume popup is supporting the price action the stock may retest the B/O and a successful B/O will give a handsome gains with 1:1.4 risk reward. Tgt 2 is for a medium to long term view.
this is not a call / recommendation. Please do your own research and drop your inputs in the comment section.
The stock has B/O and retest may happen at B/O levels, don't panic. stay calm even if it hits your stop loss (Unlikely to hit SL) Lets develop a good trading practices.
yashdugar0009
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but negative crossover in weekly
harshith67
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@yashdugar0009, No brother, I don't see it. which indicator is showing -ve cross? would like to hear from you. hope you are looking at zydus life and not zydus wellnesss