Strides Pharma Technical Analysis: Sell | Target Rs 340 | Arijit Banerjee

Sell Range370 – 360
Target340 – 335
Duration12 – 15 Trading Days
Potential Return^5 – 7%
CP#IdeaSell RangeTargetStopLoss*DurationPotential Return^
359.65SELL370 – 360340 – 33537812 – 15 Trading Days5 – 7%

# CP – closing price on Dec 11, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 350.
^ The returns are calculated based on CP#


Strides Pharma Science develops, manufactures and sells pharmaceutical products in Europe, Asia, Australia, North America, India and internationally. The company produces an extensive range of pharma generics includes tablets, capsules, soft gelatin capsules, parenteral, semi-solids, ointments, creams under the popular brand name JointFlex, Vanquish and Pediacare. The company has a global manufacturing footprint with eight production units spread across three continents. The drug maker’s revenue rose 37.62 per cent to Rs 715.09 crore on a yearly basis.

Stock Data
Sectoral IndexNifty Pharma
52W High551.4
52W Low288
Face Value10
Relative Performance_Strides Acrolab vs Nifty Pharma


  • Looking at the weekly chart, the stock has seen a spectacular fall from the high of around 1100 (July 2017), and it seems that it could continue with its ongoing move.
  • Last four weeks earlier, the stock had made a false breakout, when price temporarily moves above the resistance level, but then later retrace back to the same side as it started.
Strides Pharma Weekly Technical Analysis Chart
Strides Pharma Technical Analysis - Weekly Chart


  • The stock is moving in a strong downtrend by making lower highs as well as lower lows on the daily chart.
  • Strides Pharma has extended its northward journey post a crucial trend-line break-out.
  • Last few days the stock is trading below 10 days and 20 days Exponential Moving Average (EMA) which indicates selling momentum and showing confidence in my bearish view.
Strides Pharma Daily Technical Analysis Chart
Strides Pharma Technical Analysis - Daily Chart


Based on our short term stock trading tips, Strides Pharma share price target will be 340 – 335 in the next few days.

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1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.


The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).


The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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