Welaxis Research | SEBI Registered RA
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Here there is no momentum, nifty came down from this level and call side mein loss bacha liya....
Welaxis Research | SEBI Registered RA
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The price rejected from breakout level and came down, there everyone was bullish for breakout
Investment Rationale: Neogen Chemicals Ltd. (NEOGENCHEM)
1. Trend & Structural Breakout: On the daily timeframe, price action has delivered a strong resistance breakout candle above the multi-week resistance supply zone at 2,360–2,370. The stock has been making steady higher lows within its underlying primary uptrend, and this decisive bullish daily expansion candle marks a clean structural breakout out of a cup-and-handle/horizontal base pattern.
2. Volume Confirmation: The breakout is supported by expanding daily volume (388.39K), higher than the average volume of the preceding consolidation days. This volume expansion indicates robust buying participation and institutional interest as price breaks into fresh high territory.
3. RSI Analysis: The daily RSI stands at 67.95, breaking above the key 60 threshold into the bullish momentum zone. This expansion signals strong upside momentum with ample headroom left before reaching overbought territory.
4. ADX Strength: The ADX indicator reads 28.28, trending comfortably above the critical 25 threshold. This confirms a well-established, strong trending environment capable of sustaining further upside expansion.
Trade Setup Details:
Instrument: Neogen Chemicals Ltd. (NEOGENCHEM) - Equity Positional
Buy/Entry Zone: 2,380–2,390
Target 1: 2,620
Target 2: 2,800
Stop Loss: 2,210
SEBI Mandatory Disclosure & Interest Disclosure:
Research Analyst Disclosure: I/We (or associated entities) hold long position (long or short) in Neogen Chemicals Ltd. at the time of publishing this research report. This report is prepared strictly for educational/informational purposes under SEBI (Research Analysts) Regulations and does not constitute direct financial advice or trade execution recommendations.
1. Trend & Structural Breakout: On the daily timeframe, price action has delivered a strong resistance breakout candle above the multi-week resistance supply zone at 2,360–2,370. The stock has been making steady higher lows within its underlying primary uptrend, and this decisive bullish daily expansion candle marks a clean structural breakout out of a cup-and-handle/horizontal base pattern.
2. Volume Confirmation: The breakout is supported by expanding daily volume (388.39K), higher than the average volume of the preceding consolidation days. This volume expansion indicates robust buying participation and institutional interest as price breaks into fresh high territory.
3. RSI Analysis: The daily RSI stands at 67.95, breaking above the key 60 threshold into the bullish momentum zone. This expansion signals strong upside momentum with ample headroom left before reaching overbought territory.
4. ADX Strength: The ADX indicator reads 28.28, trending comfortably above the critical 25 threshold. This confirms a well-established, strong trending environment capable of sustaining further upside expansion.
Trade Setup Details:
Instrument: Neogen Chemicals Ltd. (NEOGENCHEM) - Equity Positional
Buy/Entry Zone: 2,380–2,390
Target 1: 2,620
Target 2: 2,800
Stop Loss: 2,210
SEBI Mandatory Disclosure & Interest Disclosure:
Research Analyst Disclosure: I/We (or associated entities) hold long position (long or short) in Neogen Chemicals Ltd. at the time of publishing this research report. This report is prepared strictly for educational/informational purposes under SEBI (Research Analysts) Regulations and does not constitute direct financial advice or trade execution recommendations.
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