🚀 Wockhardt: Pharma Revival Play with Bullish Momentum!

📈 Massive Trend Reversal Confirmed After a long downtrend (2021–2023), Wockhardt has staged a powerful bullish breakout in 2024. Recent correction found strong support at 38.2% Fibonacci level (~₹1703). Stock is now attempting to reclaim previous highs with a +4% up move, closing at ₹1746. 📏 Key Levels: Support: ₹1650 (EMA + price structure), ₹1703 (Fibo 38.2%) Resistance: ₹1828 (near-term), ₹1887 (50% extension level) 📊 Volume Confirmation: Volume spikes on bullish candles confirm institutional participation. 🔁 Wave Analysis: Looks like Wave 3 of Elliott underway with prior corrective wave completed between ₹1880–₹1100. 🔬 Fundamentals (Re-rating Theme): Historically debt-heavy and underperforming, but undergoing balance sheet repair. Plays into the broader Indian pharma re-rating story as capacity, exports, and specialty pipeline improve. Still speculative but with high turnaround potential. 📌 Technical Verdict: Bullish bias as long as ₹1650 holds. Watch for breakout above ₹1828 for a fast move to ₹1887 and ₹2000+. Ideal for high-risk traders eyeing momentum in turnaround stories.