Decent dip from Zydus Wellness. Stock Looks oversold. Pullback likely.
Stock is trading at 1350. Stock is most likely to pullback towards 1540-1600.
Based on Daily moving average chart, the stock is taking support of 200 day EMA. (Exponential moving average)
Based on Ichimoku cloud charts on day and weekly candle the stock is likely to pull back to 1540-1600. Time frame 1 month.
Stock will face resistance at 1600-1640 in the upside. On the downside, have a SL of 1210. Add on dips towards 1270-1290. Exit on Death Cross too.
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