Thyrocare Daily Chart Analysis
Hello Everyone !
Lets analyze a Swing Trade-
As we can see on the Daily Chart of Thyrocare
THYROCARE
This stock has been in a downtrend since a very long time but now we can see that as per price action, a double bottom chart pattern is in formation.
The CMP of this stock is 670.
We will wait for a strong closing above 694, because this will confirm a proper double bottom.
Reasons why I am bullish on this trade:
1) The double bottom is being formed after a big downtrend, which is a high probability of trend reversal.
2) The volumes are strong [ Highest in last 6 months ]
3) Pivot Points are also showing a strong move above 692.
Now, if this stock gives closing above 694, we can expect:
First Target of 740
Second Target of 798
Disclaimer :
I am not a Sebi registered Analyst so please do your own Analysis before taking any action, The above view is shared just for educational purpose. By no means shall be responsible for any losses amounting out of it incase if any trades on it.
Lets analyze a Swing Trade-
As we can see on the Daily Chart of Thyrocare
THYROCAREThis stock has been in a downtrend since a very long time but now we can see that as per price action, a double bottom chart pattern is in formation.
The CMP of this stock is 670.
We will wait for a strong closing above 694, because this will confirm a proper double bottom.
Reasons why I am bullish on this trade:
1) The double bottom is being formed after a big downtrend, which is a high probability of trend reversal.
2) The volumes are strong [ Highest in last 6 months ]
3) Pivot Points are also showing a strong move above 692.
Now, if this stock gives closing above 694, we can expect:
First Target of 740
Second Target of 798
Disclaimer :
I am not a Sebi registered Analyst so please do your own Analysis before taking any action, The above view is shared just for educational purpose. By no means shall be responsible for any losses amounting out of it incase if any trades on it.
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