INDOCOREMEDIES LTD CHART
[technical ANALYSIS]
On
a weekly chart, the INDOCO REMEDIES formed a Bullish inverted hammer pattern
and after day yesterday it surpassed the pattern high which triggered fresh
buying interest. The momentum oscillators on the weekly chart are into deep
oversold zone hence we expect a decent bounce in coming trading session.Looking
at the weekly chart, indoco has formed a bullish divergence pattern and now the
weekly RSI (49) signals a positive reversal pattern which indicates that the
recent rally up trade soon.
The
INDOCO REMEDIES LTD stock bought in the range of 205-207 for targets of
220-235, keeping a stop loss below 191.
Stock resistance and
Support (weekly)
·
Resistance 1
- 217Support 1 - 195
·
Resistance
2 -
251Support 2 - 166
·
Resistance
3 -
317Support 3 - 131
[FUNDAMENTALS ANALYSIS]
The
Indoco Remedies USFDA conducted routine inspection at Rabale Facility with zero
483 observations & Patalganga facility with three observations (but are not
critical or pertain to data integrity)The inspection included a review of
production facility, processes and procedures, training records, quality
systems and control procedures.
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