With Pharma sector looking to take a break after a superfast rally, many pharma stocks have shown signs of a pullback.
After struggling in the 1040-1075 zone for a few days, Apollo Hospitals
APOLLOHOSP
formed a large Bearish candle today.
I can see that the price has formed an Evening Star pattern and got rejected at 61.8% of the previous downmove.
Good opportunity to short here with a small stop loss for a target around 970 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
After struggling in the 1040-1075 zone for a few days, Apollo Hospitals
APOLLOHOSP
formed a large Bearish candle today. I can see that the price has formed an Evening Star pattern and got rejected at 61.8% of the previous downmove.
Good opportunity to short here with a small stop loss for a target around 970 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.