TECHNICAL ANALYSIS STOCK INDOCOREMEDIES LTD by CapitalHeight

                                         INDOCOREMEDIES LTD CHART
INDOCOREMEDIES LTD CHART by CapitalHeight


[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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