Technical Analysis Aarti Pharmalabs Limited.

The stock

after a prolonged downtrend from its previous highs near 960 the stock has recently found a strong base. It is currently showing a sharp short-term bullish reversal. The stock is trading around 740.25 forming a solid bullish green candle with a strong gain of over 4%. It has successfully recovered from its recent lows and is climbing with good momentum. Immediate resistance the stock is approaching a prior swing level around 760. If it breaks and sustains above this 760 resistance the stock could easily rally toward the 800 to 820 zone. Support Levels immediate support is now located at the 680-700 breakout zone. If there is a pullback or profit booking it should bounce from here. The major strong support remains at the recent bottom of 600-620. For Short-Term buyers it is safest to wait for a clear daily candle close above the 760 resistance before making fresh entries as this will confirm a strong breakout. Alternatively accumulating on small price dips near the 700-720 zone will give you a much better risk-to-reward ratio. For Existing Holders you should continue holding your positions to ride this strong upward momentum. Just make sure to maintain a strict trailing stop-loss below the 680-700 support area to protect your recent gains and watch the 760 and 800 levels as potential targets to book partial profits. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.