📊 Wockhardt Ltd – Strong Bullish Reversal & Momentum Build-up
The stock has shown a sharp reversal from lower levels after a prolonged downtrend, with strong bullish momentum and sustained buying pressure.
🔎 Technical Observations:
• Prior downtrend followed by base formation
• Strong reversal with bullish engulfing-type candles
• Formation of higher highs & higher lows (trend shift)
• Price reclaiming key resistance zones
• Momentum indicators in strong bullish territory
🔑 Key Levels to Watch:
• Immediate Support: ₹1420 – ₹1340
• Major Support: ₹1280 – ₹1215
• Immediate Resistance: ₹1500 – ₹1540
🚀 Upside Targets:
• ₹1540
• ₹1600
• ₹1680+
📉 Risk Scenario:
Breakdown below ₹1340 may weaken the bullish structure and lead to downside towards ₹1280
📈 Trading View:
👉 Stock has entered strong recovery phase with bullish momentum
👉 Sustained move above ₹1540 can trigger further upside rally
⚠️ For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS 📊