TORNTPHARM: Bullish Reversal in Progress – Momentum Building Above Key Averages

Torrent Pharma is showing strong signs of a trend continuation after a healthy pullback, indicating a potential fresh upside move. On the daily chart, the stock has formed a bullish engulfing candle near recent support, signaling demand returning at lower levels. This pattern gains more credibility as it appears after a minor correction within an ongoing uptrend. The RSI rebounding from the 44 zone is another positive signal. It reflects that momentum cooled off without entering oversold territory and is now turning upward — a classic setup seen in strong trending stocks. Structurally, the stock continues to maintain a higher high – higher low formation, confirming that the broader trend remains intact. The recent dip held above previous swing lows, reinforcing buying interest. From a moving average perspective: Price is comfortably above 50 EMA and 200 SMA, indicating medium- to long-term strength Short-term averages are starting to curl upward again, suggesting momentum alignment Additionally, price is trading near the mid to upper Bollinger Band, hinting at volatility expansion and potential directional move. Trade Setup Buy Above: 4275 Target: 4450 / 4570 Stop Loss: 4150 Conclusion The confluence of bullish candlestick pattern, RSI recovery, trend structure, and moving average support suggests that Torrent Pharma is preparing for the next leg of the uptrend. Any sustained move above immediate resistance can trigger fresh momentum buying.