TORNTPHARM Bullish Breakout: Targeting ₹3300 & ₹3400 from CMP ₹

Current Market Price (CMP): ₹3245

• Target 1 (T1): ₹3300
  
• Target 2 (T2): ₹3400
  

Stop Loss (SL): ₹3180 (below recent swing low for risk management)

Timeframe: Daily/Weekly

Trade Type: Long (Buy)

Technical Analysis

Trend Analysis:

- TORNTPHARM is in a steady uptrend, supported by higher highs and higher lows on the daily chart.
- The stock is trading above its 50-day and 200-day EMAs, indicating bullish momentum.
Key Levels:
- Support: ₹3200–₹3180 (recent swing low and near 50-day EMA).
- Resistance: ₹3300 (psychological level and minor resistance), ₹3400 (previous high and key resistance zone).
- A breakout above ₹3300 could accelerate momentum toward ₹3400.
Indicators:

Chart Patterns:
- The stock is forming a bullish continuation pattern (consolidation near highs), with a potential breakout above ₹3250–₹3270.
- A strong close above ₹3250 could confirm the move toward T1 and T2.

Trade Setup
Entry: Buy at CMP ₹3245 or on a breakout above ₹3250 with strong volume.
- Target 1: ₹3300 (1.7% upside, short-term target).
- Target 2: ₹3400 (4.8% upside, medium-term target).
- Stop Loss: ₹3180 (1.9% downside risk, below support zone).
- Risk-Reward Ratio: ~1:2.5 (favorable for swing trading).

Rationale
- TORNTPHARM is benefiting from strong fundamentals in the pharmaceutical sector, with consistent revenue growth and positive market sentiment.
- Technicals indicate a continuation of the bullish trend, with ₹3300 and ₹3400 as achievable targets based on prior resistance levels.
- The stop loss at ₹3180 protects against a potential trend reversal or pullback to stronger support.

Risk Management
- Position size: Limit risk to 1–2% of capital based on the ₹65 stop loss (₹3245 - ₹3180).
- Monitor for high volatility around key resistance levels (₹3300 and ₹3400).
- Exit if the stock breaks below ₹3180 on a daily close or shows signs of bearish divergence on RSI/MACD.

Additional Notes
- Sector Context: The Indian pharma sector is showing resilience due to export growth and domestic demand. TORNTPHARM’s strong product portfolio supports the bullish outlook.
- News Catalyst: Keep an eye on quarterly earnings or regulatory updates that could impact price movement.
- Time Horizon: 2–4 weeks for T1, 4–8 weeks for T2, depending on market conditions.

Disclaimer: This is not financial advice. Conduct your own research and consult a financial advisor before trading. Past performance does not guarantee future results.