Updated: Aug 28, 2021
Please read the analysis I recently did on INDOCO REMEDIES for a friend.
I usually do not cover Indoco Remedies but happy to analyse the stock upon request. If you would like stocks to be analysed please write to me at firstname.lastname@example.org or comment below!
Current Market Price- 257
Target 412 (+60%)
Stoploss 235 (-8.5%)
The short term direction for Indoco looks very unclear as the stock is range-bound, and neither the price nor the momentum indicator is giving clear signals about its short term potential action. However, the movement is encapsulated between two trendlines with resistance at 315 and support in the range of 235-240. A breakout beyond either level with help in determining the direction.
The stock is easier to analyse for the long term- It has confirmed a bullish trend in January 2020 as shown on he chart but experienced the covid shock in march 2020. Ignoring trendline breach (as it was sentiment-driven), the stock has clearly resumed the uptrend. The last few months have witnessed higher volumes (blue circle) which means there is accumulation going on in the stock and is positive. As per the weekly chart, I am inclined to believe that a target of 412 is very much possible. At the current price of 257, this means a +60% target with stop loss at 235(-8%). The risk-reward appears promising if one is willing to play the stock for the long term.
I would love to hear your thoughts about this INDOCO.
Thanks for reading!
stock market blogstock market blogspotstock market blogsstock market blogs in indiablog on stock marketstock market blogs india indian stock market technical analysis blogbest blog for stock marketbest stock market blogstock market live blogfree stock market tips blogspot
stock market analysis blog stock market news blog stock market crash blog us stock market blogstock market technical analysis blog stock market tips blogspotstock market today blog
stock market blog sitesaustralian stock market investing blogwhat are the stock market namesfree stock market blogstock market tips blogsingapore stock market blog
best stock market analysis blogcnbc stock market blogstock market blog names
stock market blogs for beginners stock market blogs redditblog for stock market
blog about stock marketstock market blogs websitesstock market investing blog
stock market basics blogdaily stock market blog cnbc stock market live blog
stock market investment philippines blog stock market beginner blog what are some blog topics us stock market live bloghow to create stock market blogstock market hindi blog
stock market blog topicsstock market predictions blogstock market mind games blogspot
reddit stock market blogstock market astrology blogspotstock market blogger template
colombo stock market blogstock market for beginners blog