As per Weekly chart it taking support at 9 and also formed Inside Bar on Weekly chart Suggesting range expasion in coming 2 weeks.
We have seen an increase in Volumes in last 4 trading session and forming and price near channel breakout and stock has also made a Ascending Traingle Pattern on Daily chart. Technically Stocks Looks Ripe for a Breakout above 9.4-9.5 Range for a short term rally till 10.5-11.2 odd levels which gives us upside of 10-20%.
Fundamnetally Stock has a Tie up with Abbot India Ltd. (Click on the Link to Read More about the update) Abbott Laboratories is an American worldwide health carecompany with ,revenues over $30.5 billion.
Also with COVID Vaccine distribution Stock will play a vital role in distribution which can add to both topline and bottomline.
Short Term Traders can go long in range of 9.3-9.4 with SL of 8.6 on Closing basis for a target of 10.5/11.2 in 2-3 Weeks Time Frame
The above Stocks is not investment pick and shared for educational purposes based on Technical Analysis.Please also do your own study before trading this stock and trade in small quantity also be strict with Stoploss.
Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.