F&O Radar| Deploy Broken Wing in Zydus Lifesciences to play bullish momentum for gains
Investment Ideas
Synopsis
Zydus Lifesciences shares show bullish momentum, forming a weekly Inverted Head and Shoulders pattern with a breakout above Rs 1,050. Traders can consider deploying a Broken Wing strategy to capitalise on potential short-term gains, supported by rising RSI, strong EMAs, and key derivatives support and resistance
Zydus Lifesciences shares are currently trading near Rs 1,023.15 and continue to maintain their overall uptrend. The stock has been consolidating in a broad range for the past few weeks and, on the weekly timeframe, has formed a bullish Inverted Head and Shoulders pattern.This is typically considered a strong reversal-to-continuation formation.Recently, the stock has also given a breakout of this consolidation range, hinting at fresh momentum
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