Multibagger stock: ZYDUSLIFE 100% move in just 9 months!
May 21, 2024
It is possible to capture a massive move in a shorter time frame with the help of the Time cycle and simple Elliott wave theory.
We had recommended to buy Zydus Lifesciences in our Multibagger stock report back in August 2023, when the stock was trading near 650 levels! Below is the detailed chart and analysis that the stock followed.
Zydus Life Weekly Chart (Log Scale) Anticipated as on 23rd August 2023
Zydus Life Weekly chart Anticipated as on 23rd August 2023
Wave Analysis Anticipated as on 23rd August 2023
Pharma sector continued to outperform since quite a few months now. We have identified one stock which is expected to give a breakout on a bigger time frame named as Zydus Life Science Ltd.
In the Weekly chart of Zydus Life, we can see that, stock is moving well within a multiyear channel. Stock has also formed a Rounding Bottom pattern and currently on the urge to give breakout. Usually this pattern occurs at the end of the downtrend. This time it is making an exception by forming on the top. However, breakout is still pending. For short term we expect some consolidation before breakout as it will give time for RSI to cool off. After which, fresh breakout is expected.
As per wave perspective, currently primary wave 5 is ongoing on the upside which is subdividing in nature. Recent fall was in form of intermediate wave ii which got completed near the 320 levels. The stock is following 89 Period cycle really well. As it has managed to capture almost all the important lows. The recent low formed near 320 levels was near our cycle and since then we witnessed a good rise which is in form of intermediate wave iii.
On the Weekly chart, in the recent rise base line(red) acted as a support to prices on a regular interval. For now, any dip towards the same i.e. towards 560 levels can be used as an added advantage to ride the trend.
In short, the trend for Zydus Lifescience Limited is positive for the conservative target of 1170 as long as 380 levels remains intact on the downside. Buying can be done in staggered fashion at CMP 650 and more on dips towards 560 levels in this stock.
Zydus Lifesciences Weekly chart Happened as on 21st May 2024
Happened
In August 2023, we published about Zydus Lifesciences in our Multibagger report. At that time stock was trading close to 650 levels. After a dip, stock moved as expected and achieved our target of 1170 levels in today’s session and made a high of 1172.5 within less than 9 months, which is more than 100% from the dip levels. We have identified this stock using advance technical tools like Time cycle and Elliott wave theory!
Time Cycle and Elliott wave works brilliantly if one knows how to apply it correctly. So, using these two techniques one can capture massive moves in stocks for long term as well as for short term!
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