BUY WOCKHARD @ 533 Target 2% to 3 % from Buying Level SL 527.5 ( Max 2 days)
Market bottomed out last time around 520 and this time around ~ 720. During the recent fall RSI bottomed out and this is the first swing high. Market tested 736 multiple times and moves higher. So took a small position at 790 with 736 as stop. Will average down the buy until 750 as market allows to reduce the risk.
Wockhardt has been testing the resistance of 650 and giving up. Thrice post the jump from 25-05-17 it has retraced from this level. 15-06-2017, 20-07-2017, 13-09-2017 Taking 565 as a safe target
Wockhardt seems to be hitting the same wall again and again. It has started flagging week signs this time again
On hourly chart, the price action breaks out from a consolidation that shall move prices to next resistance level of 865 levels. Target 865 Stoploss: 830
Wockpharma seems to have broken out of it's channel to the downside. Hence a move towards the LTL is possible. IF there is an upmove (and a reversal) from the channel LTL (as shown by the arrows) then it'd be a great short. In general, up moves could be shorting opportunities. An up move and a closing inside the channel could be a spoiler for this setup.
Wockhardt shares slump over 14 per cent as Ankleshwar unit gets USFDA import alert www.financialexpress.com
Wockhardt can be bought for medium term with a SL 700 and target of tp1 1000 tp2 1400 and tp3 1800