Senores Pharmaceuticals IPO Base Breakou

Analysis: Senores Pharmaceuticals
Structure: IPO Base Breakout 🌟

Entry: Above ₹610 (preferably on a closing basis)
Stop Loss (SL): ₹499 (Closing Basis) ❗
SL Percentage: -18.20% 📉
Target Levels:
T1: ₹849 (+39.18%) 🎯
Risk-to-Reward (R:R): 1:2.15 ⚖️

Technical Highlights:
📌 Volume Surge: Today's volume is 2x-3x higher than previous sessions, indicating strong interest.
📌 Price Action:

Candle traded right at the All-Time High (ATH) but didn’t close above it.
Pharma sector is holding up despite the broader market correction.
📌 Market Condition:
Risky Setup: Trading against the trend as Nifty remains below 200 DMA and 50 DMA.
Overall market structure is still weak, increasing the probability of a big fall.
Key Strategy:
⚡ Buy Small Quantity: At breakout levels; wait for a potential retest to add more.
⚡ Position Sizing is Key: Due to the deep SL, risk management is crucial.
⚡ Discipline Required: Avoid emotional trading in such setups.

Risks:
1️⃣ Nifty Weakness: Broader market correction can weigh on individual stocks.
2️⃣ Trend Reversal: Pharma sector performance is not guaranteed to sustain in this correction.

💬 Trade Safe and Stay Disciplined!

⚠ Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always consult with a qualified financial advisor before making any investment decisions.