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Indoco Remedies


BSE: 532612 | NSE: INDOCO | ISIN: INE873D01024 | SECTOR: PHARMACEUTICALS

Accumulate@CMP160, Target 180- 200, Stop loss 140

Analysis: On weekly basis Indoco Remedies forming a bullish Ascending triangle pattern, the triangle pattern has given breakout from 148 levels to upside 160 level with high volume of 14 lacks, We are expecting above the 160 levels Indoco Remedies start new bullish rally and we can see new immediate top as 180 " 200 levels, form the past seven months prices are showing strong trend line support from 126 level to the upside 154 levels.

On daily basis prices have strong 55 DMA’s support & on weekly basis prices have 13 Weekly SMA support, We are very bullish on Indoco Remedies,

We advices to accumulate Indoco Remedies @CMP 160 with upside target of 180-200 & 140 will be a stop loss for this trade.

MACD: On weekly basis MACD is moving very positively above zero level & maintaining a level between positive zone.

RSI: RSI Indicator on weekly basis showing levels between50-60 & upside showing positive diversions.




Indoco Remedies (Weekly chart)



























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