Multibagger Stock: Zydus Lifesciences up by 68% in just 6 months!!

cadila healthcare elliott wave multibagger stock zydus lifescience Feb 29, 2024

Multibagger Stock: Zydus Lifesciences up by 68% in just 6 months!!

We published about Zydus Lifesciences in August 2023 and predicted possibility of Multibagger returns in coming 2-3 years. Check out the research we had published on 23rd August 2023 itself – This stock has managed to hold its gain and gave more than 68% returns in 6 months of span and made a life time high of 923.65 levels.

Zydus Life Weekly chart Anticipated as on 23rd August 2023

Multi bagger stock recommendation: Zydus Lifesciences

Buy Price – Buy at CMP 650 more on dips towards 560 level.

Time Horizon –2 to 3 years

Investment – 5% of capital

Target price –??

Stop loss - ??

Anticipated as on 23rd August 2023– Elliott Wave Theory:

Zydus Lifesciences Limited, formerly known as Cadila Healthcare Limited, is an Indian multinational pharmaceutical company which is primarily engaged in the manufacture of generic drugs.

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 edge 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. 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.

Zydus Life Daily chart Happened as on 29h February 2024

Happened– The stock has been moving in sync with our expectation. Stock made a dip exactly near our mentioned levels and from thereon we saw a sharp bounce on the upside. Stock has shown a really good rise of overall 68% from the lows in just 6 months of span!!! It has touched its fresh record high near 953.65 levels recently and currently it is quoting near 935 levels. The overall up move has been strong and we expect prices to achieve its target of...levels in coming months.

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