Pharma index witness mayhem today due to bad news from US with Dr. Reddy plunging 10%.
Cipla NSE:CIPLA seems to be the only stock which was hammered relatively less today.
However, I can see that the stock is struggling around 78.6% of previous downfall for many days and looks close to a breakdown.
Looks like it is heading for a first target around 600 levels.
Good opportunity to short here with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.