IPCA LABORATORIES - RETEST OF SUPPORT BREAKDOWN

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Symbol - IPCALAB

Ipca Laboratories has recently experienced notable price movements, trading near resistance levels after a good pullback from lower levels. Currently, the stock is trading near major resistance zone, which follows a period of strong recovery from its earlier lows. However, the trend appears bearish, and the sentiment is negative. This increases the likelihood of a sell-off from the ₹1500-₹1540 resistance zone, where the stock may face significant selling pressure.

Despite the recent price recovery, the stock is encountering selling pressure near these resistance levels, reflecting a similar trend seen in many healthcare stocks due to changing investor sentiments. As with other pharmaceutical companies, the stock could face volatility due to external factors such as regulatory updates, changes in pricing strategies, or new competition in the market.

Despite short-term fluctuations, the stock remains resilient due to strong fundamentals and an ongoing focus on key therapeutic segments. However, the short-term outlook might face a correction. This could trigger a move towards lower levels, but long-term growth remains intact based on strong earnings prospects and solid market positioning.

Key Resistance levels: ₹1500, ₹1540, ₹1548
Key Support levels: ₹1460, ₹1434, ₹1400

There are no signs of a significant trend reversal, and growth could resume from lower levels should the stock maintain its strong performance fundamentals.





Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!

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تم فتح الصفقة

CMP 1505

Short position order triggered.

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ملاحظة

CMP 1460

Future short position 45 rupees (3%) in profit.
Holding with CTC SL.

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ملاحظة

Added more position at 1530
Now holding with CTC SL placed at 1517

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أغلقت الصفقة: تم الوصول للهدف

Target 1 reached.

-5.20% from my short level.

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ملاحظة

CMP 1410

Now down -107 rupees or -7% from my short level.

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ملاحظة

CMP 1394

Still falling continuously.
Now down -133 rupees from my short level.