JUBLPHARMA Ready for an Up Move?
Hello fellow traders, I hope you are all doing well.
Key Observations:
1. Strong Support Zone: JUBLPHARMA has reached a strong zone that previously acted as resistance and could now turn into support.
2. Chart Pattern: A falling wedge pattern is visible, which is typically a bullish reversal signal. We can also see that the breakout has already happened and now the price has come to retest.
3. Bullish Engulfing Candle: On the weekly time frame, we see buying pressure emerging, confirmed by a Bullish Engulfing candle.
4. Entry Point: A good entry could be above ₹1010 for better confirmation of the uptrend.
5. Targets: The potential targets are already marked on the chart as T1, T2, and T3.
As this is my first published idea, I kindly ask you to ignore any mistakes, and I will strive to improve in the future.
Disclaimer:
This is purely an analysis and not investment advice. Please trade with due diligence and manage your risks carefully.
I hope you like my work, Thanks in advance.
Best regards - Anantesh
Key Observations:
1. Strong Support Zone: JUBLPHARMA has reached a strong zone that previously acted as resistance and could now turn into support.
2. Chart Pattern: A falling wedge pattern is visible, which is typically a bullish reversal signal. We can also see that the breakout has already happened and now the price has come to retest.
3. Bullish Engulfing Candle: On the weekly time frame, we see buying pressure emerging, confirmed by a Bullish Engulfing candle.
4. Entry Point: A good entry could be above ₹1010 for better confirmation of the uptrend.
5. Targets: The potential targets are already marked on the chart as T1, T2, and T3.
As this is my first published idea, I kindly ask you to ignore any mistakes, and I will strive to improve in the future.
Disclaimer:
This is purely an analysis and not investment advice. Please trade with due diligence and manage your risks carefully.
I hope you like my work, Thanks in advance.
Best regards - Anantesh
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