Hello All !!
Today Posting About a Company With a Good upside Potential.
We have Already Added it in Our "SMALL & MIDCAP Portfolio"
The Stock we Will be Discussing Today is "SUVEN LIFE Sciences Ltd."
The Stock is a Part of Small Cap Index "NIFTY SMALLCAP 100"
Let's See the Chart :
Today Posting About a Company With a Good upside Potential.
We have Already Added it in Our "SMALL & MIDCAP Portfolio"
The Stock we Will be Discussing Today is "SUVEN LIFE Sciences Ltd."
The Stock is a Part of Small Cap Index "NIFTY SMALLCAP 100"
Let's See the Chart :
The Chart here is a Weekly Chart, Normally I Look into Charts with atleast Daily or Above timeframe while Selecting Stocks for Investment Purpose.
This Chart Shows a Small Cup and Handle Formation Breakout at the last Part of the Chart, Marked in Dark Red Colour.. The Cup and Handle Formation is Complete and Breakout Above the neckline is done successfully.. The Neckline was around 280 levels.. The Breakout Target as per the Structure rule will be approx 80 Rs. above the Neckline, Which Comes around 360 levels.
The Stock May Face Strong Resistance around 337-338 level, which is a Long Term resistance for many years, But if we look at the chart carefully, we may see a Longer Term Cup and Handle Formation which is yet to complete. Cup is Complete and handle is still in process. The Structure is Marked with Blue and Light blue Colour on the Chart. If The Cup & Handle Breakout on Longer Term is Successful above 338 levels.. It will be a Big Breakout with a Price Target of atleast Rs.160-170 above the Neckline. It Comes around 500 Levels. and The Timeframe required to complete the Target may be around 6-8 months. Bigger Cup & handle breakout Requires Crossing 338 Levels, While Small Cup&Handle Breakout Target Comes around 360 levels. Clearly indicates, Stock is Getting Strength to Cross the Long Term Resistance at 338 levels and it may Cross soon. Just Keep it On Watch or Add on Declines and Hold for the Levels given above. 338 will not cross in First attempt, May Consolidate near this level for sometime before further upmove. Non Leveraged positions can be taken for Investment Purpose.
Recommendation:
SUVEN LIFE SCIENCES LTD. Buy On Dips till 285
Stoploss : 275 (Closing basis)
Targets : 335 - 340 - 360 - 440 - 500
Current Market Price : 293
(The Stock is Recommended and Added in Our Clients "SMALL and MIDCAP PORTFOLIO" to know more about the portfolio Click Here)
Risk:
The Recommendation is a Personal view of the Analyst, based on assumptions of a Possible breakout, or Principles of some Chart structures. No Leveraged Positions advised, Follow Strict Stoploss on Closing Basis. Consult your Investment Adviser before taking any trade.
Disclosure:
The Analyst is a Globally known Technical Analyst and Fund Manager Having an Experience of 12 years in International and Domestic Markets. The Stock is already in Portfolio of the Analyst and his Clients, so the view may be biased.
The Portfolio is Doing Amazing Since Inception and has delivered Superb Returns..
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