Downtrend Reversal in Thyrocare
The weekly chart shows a reversal after a long downtrend. The stock has recently broken above the weekly 200 EMA, a significant technical milestone, and has also retested this level successfully. This indicates the potential for sustained upward momentum, especially as volume supported the breakout.
The stock could face resistance around INR 1,000, which is a psychological level. If momentum continues and the stock decisively breaks above INR 1,000, a further target could be set around historical levels.
For a stop-loss level, consider placing it slightly below the retest level.
These levels can be adjusted based on risk tolerance and evolving market conditions.
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
The stock could face resistance around INR 1,000, which is a psychological level. If momentum continues and the stock decisively breaks above INR 1,000, a further target could be set around historical levels.
For a stop-loss level, consider placing it slightly below the retest level.
These levels can be adjusted based on risk tolerance and evolving market conditions.
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
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