Strides Pharma - Volumes Backing a Breakout?

13 thg 5

Daily Timeframe Analysis

The setup is heating up and now we’ve got volume profile data to back it. The price is hovering around ₹666.10, and it looks like it's building strength for a bigger move.

🔹 Key Observations:

Price is compressing under a falling trendline (descending triangle or wedge).

Strong volume node around the ₹650–₹675 zone. This means a lot of trading activity happened here — a key decision area.

Fibonacci projections suggest targets as high as ₹984.00, which is a +40% upside.

Breakout confirmation above ₹692.75 (61.8% level) can trigger a rally.

🔹 Important Levels:

📍 Resistance: ₹692.75 → ₹741.65 → ₹804.00 → ₹984.00

📉 Support: ₹624.00 → ₹581.50 → ₹530.00 → ₹515.20

📊 Volume Insight:
The visible range volume profile shows most trading volume has happened below the current price, which is bullish. If the price breaks above the current squeeze, it might fly with less resistance overhead.

🧠 Thought:
This chart is a coiled spring. If bulls push above ₹692 with momentum, this might become a quick swing to ₹740+, and maybe more in the short to medium term.

📝 #StridesPharma #BreakoutSetup #VolumeProfile #SwingTrade #IndianStocks

22 thg 5

Ghi chú

Reached :→ ₹ 750

30 thg 5

Ghi chú

Its reached 811 now waiting for ₹984,