It may break out in the next 20-25 days. The descending triangle indicates that the stock may go down. But it would be prudent to go ling if the stock manages to close above 4/1 line in 10 days.
With series of new patents filed in different countries and
rise in OBV over the last few year shows investor confidence in the stock.
Tech Indicators : Trendline breakout, MACD Crossover and OBV on rise and comfortably trading above 22 EMA
Levels
CMP 214.7
SL 199
Target 280
Can face resistance near 280 above which it can reach 300+ levels.
Time Frame: 1 month
Suven Life Sciences Ltd NSE: SUVEN Trading technical call for short term
CMP 215 Closing Based SL 198 Targets 225 232 240
Technicals:
* Volume Breakout
* Swing high Breakout
* Channel Breakout
* Trendline Breakout
For education purpose only
Scrip is at Rs 179, taken a massive and good volume + price breakout on Monday 3rd April 2017.
After complete bottoming out, scrip has taken firm support on 200W EMA between Feb 2016 to March 2017 and is now promising to break out decisively upwards.
Once it crosses 186~187, the momentum will be good.
Fundamentally, the balance sheet is sound, debt free and...
