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As we analyze the current market trends, Zydus Lifesciences emerges as a compelling candidate in the list of stocks to buy. According to Bajaj Broking’s Research Desk’s Alpha Trade report dated 28th June 2024, Zydus Lifesciences (ticker: ZYDUSLIFE) is showing a strong structural uptrend, making it a potential stock to buy for investors. Here’s a detailed look at why Zydus Lifesciences is a promising stock to consider. Zydus Lifescience's share price was trending at Rs. 1073.75 at 12:00 PM on Friday, 28th June 2024.
Zydus Lifesciences has been consistently trading in a rising channel since October 2023. The stock is forming higher highs and higher lows on the long-term chart, indicating a sustained demand at elevated levels. In December 2023, Zydus Lifesciences generated a breakout above a 30-month-long rounding formation, marking a significant structural turnaround from a long-term perspective.
The Bajaj Broking Research Team recently recommended Zydus Lifesciences and the stock reached its target price of 1180 within just 10 days. This achievement highlights our team's expertise and commitment to providing timely and informed investment insights. Keep following Bajaj Broking's Blogs and Stocks to Buy section for more such recommendations.
The stock recently rebounded from the lower band of its rising channel, offering a fresh entry opportunity. This rebound, coupled with the stock’s trading patterns, supports a positive bias towards Zydus Lifesciences.
Explore: Zydus Lifesciences Ltd Share Price
Zydus Lifesciences share price is currently in a strong uptrend, forming higher highs and higher lows on the long-term chart. Recently, the stock rebounded after taking support at the lower band of the channel, presenting a fresh entry opportunity for investors. We expect Zydus share price to head higher towards the 1184 level, which was its previous all-time high in May 2024. Additionally, the weekly stochastic indicator is in an uptrend and has recently generated a buy signal, further supporting the positive bias in Zydus Lifesciences share price.
Bajaj Broking Research Desk’s Alpha Trade has demonstrated a robust track record since its inception two months ago. With a strike rate of 92%, it has delivered 12 positive calls out of 16. Additionally, 3 calls remain open. The average return on these calls is an impressive 7.5%.
Zydus Lifesciences is currently in a strong uptrend with significant technical indicators supporting further growth. The stock has shown resilience and potential for further gains, making it a strong candidate among stocks to buy. With a target price of ₹1184 and an upside potential of 10%, Zydus Lifesciences offers a quick investment opportunity.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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