As i had shared in my previous post that Pharma is coming out of a 3 year long correction zone. there are 2 Pharma stocks part of Nifty 50 which will attract Hugh investments going forward from FIIs, as they focus more on Nifty 50 companies.
So we are expecting stock to move higher from here and will test its previous high of 740 odd levels in days to come.
Technical view-
Cipla had broker out its narrow range similar to Ascending triangle formations on weekly charts which suggest a big upside going forward.
The best possible case which should happen is that stock will move up and hits its previous highs of 740, so we can take a longer view in future as positional trader or we also can invest here for next 6 months to gain 20-25% upside.
So we are expecting stock to move higher from here and will test its previous high of 740 odd levels in days to come.
Technical view-
Cipla had broker out its narrow range similar to Ascending triangle formations on weekly charts which suggest a big upside going forward.
The best possible case which should happen is that stock will move up and hits its previous highs of 740, so we can take a longer view in future as positional trader or we also can invest here for next 6 months to gain 20-25% upside.