After some significant correction from ATH, its consolidating almost 90 days. And it has been formed a good base near 670-700 level. So downside limited. Now trying to breakout towards upside. Close above previous high. RSI & MFI trending up. if it surpass and sustains above the 710 level, a buying movement could be possible in the near term.
Accumulation zone : 667-700 Profit booking zone may be 798/848/898 SL 677 Dclbs /According to ur risk apetite.
Positionally can move 1100+ Sl 640 Dclbs
Disclaimer: Ideas for learning Only. Learn Regularly. Not occasionally.
Hi, it went down from that level to close the gap of the day. What does this imply? It has too many sellers or retest and then go strongly higher further?? Pls advise as I am holding 700 ce but dint sell as was expecting 726-739 levels today but it went back all the way
MyKEYtoSENSEX
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@jatulji12, Yes there was huge seeling pressure at 705-715 lvl.but i think it will retest the 700-710 lvl again. and once it close above the lvl in daily basis then it will go 800/840 lvl.BTW whats ur buying price??
jatulji12
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@MyKEYtoSENSEX, 700 ce at 31, i was in green but waited for more. I am thinking of averaging once it closes the complete gap of previous day today or tmrw. what u say? that time this wud be around 13 so my average wud come to 22 for 700 ce at spot level of say 670 approx
MyKEYtoSENSEX
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@jatulji12, ok, understood.if it closes above 688 then only u can average otherwise not.
UnknownUnicorn647130
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Appreciate your analysis, but I think it will go further down to 640 to 580 range before an up move...
Sir, I have 1000 shares at 930. I am holding since months but it seems Pharma rally is done forever. Can you tell me if I can expect 950, if yes, how long should I be waiting?
MyKEYtoSENSEX
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@anksgautam21, I think pharma will rally from november. yes u can expect 1000+ within 3 months.Let's see whats happen.