Entered Wockhardt yesterday right after news broke out about the US FDA accepting their new drug application for the antibiotic “Zaynich”. The sentiment + impact were both marked high, so I expected a sharp reaction and the stock did not disappoint.
Price exploded almost instantly on the 15-minute chart, giving a clean momentum breakout with strong volume. I booked my short-term target at ~11%+ today.
That said, the structure still looks strong and the volume spike suggests there might be more upside if momentum holds.Keeping it on watch to see if it continues trending or cools off here.
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