📊 Wockhardt Ltd – Recovery After Sharp Downtrend
The stock is showing signs of recovery after a strong downtrend and is attempting to build short-term bullish momentum.
🔎 Technical Observations:
• Prior downtrend with lower highs & lower lows
• Sharp sell-off followed by a strong bounce from support zone
• Formation of a short-term base
• Increasing buying interest with volume support
• Momentum indicators turning positive
🔑 Key Levels to Watch:
• Immediate Support: ₹1245 – ₹1217
• Major Support: ₹1150 – ₹1086
• Immediate Resistance: ₹1315 – ₹1372
🚀 Upside Targets:
• ₹1372
• ₹1412
• ₹1477+
📉 Risk Scenario:
Breakdown below ₹1217 may weaken the recovery and lead to further downside towards ₹1150
📈 Trading View:
👉 Stock is in recovery phase after downtrend
👉 A breakout above ₹1372 can confirm short-term bullish reversal
⚠️ For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS 📊