Syngene - breaking out of multi month consolidation

10 thg 4, 2022

Syngene seems to be breaking of an 18 month long (since September 2020) consolidation phase. Apart from a brief weekly excursion As the chart shows, Syngene has managed to close above this strong resistance level with reasonable volumes generating a strong weekly buy

Buy Syngene at CMP and on declines to 630

SL 620 DCB

TGT 740 and beyond

PS: stock faces a minor resistance on the daily chart at ~670. Once this is taken out, the upward momentum will only get stronger