Reasons for going Long:
1) All Pharma stocks in Uptrend and NIFTY Pharma is also at a small consolidation after rally.
2) Good news on Covid drugs.
3) The Falling wedge and Head and Shoulders breakout patterns happened with a good volume and now at a last kiss near crucial resistance. Any breakout with Good volume will achieve the first and second targets.
Entry - Can enter after the breach of the Crucial resistance. Ideal entry can be above 824.
Once First target is achieved, can trail Stop Loss for the second target if the trend continues.
1) All Pharma stocks in Uptrend and NIFTY Pharma is also at a small consolidation after rally.
2) Good news on Covid drugs.
3) The Falling wedge and Head and Shoulders breakout patterns happened with a good volume and now at a last kiss near crucial resistance. Any breakout with Good volume will achieve the first and second targets.
Entry - Can enter after the breach of the Crucial resistance. Ideal entry can be above 824.
Once First target is achieved, can trail Stop Loss for the second target if the trend continues.
Trade closed: stop reached:
Trend Reversed due to selling in NIFTY PHARMA.