sankarghatak
Long

NIFTY PHARMA INDEX - Strong PULL Back Ahead

NSE:CNXPHARMA   NIFTY PHARMA
219 4 5
NIFTY PHARMA             INDEX: 9 months DN trend nearer to an END.
As it is Defensive Sector, When NIFTY             in Correction / Range Bound Mood.
History suggests PHARMA             , FMCG             Sectors Shows Pullback Action.
Watch ADX/(-VE) DI Cross Over (Nearer , Not Happened till now) in Favour of Pullback.
Chartically AUROPHARMA             , CADILAHC             , CIPLA, DIVISLAB             , SUNPHARMA             , LUPIN             Looks Good.
Discl: Any USFDA bad NEWS may Change VIEW (for Above mentioned STOCKS)
Nice analysis. Thanks.
Reply
yes,we're gonna see a pullback very soon..also,notice that it's trading very close to the 200ema on the weekly charts,should be able to take support and bounce back
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AbhishekHiremath AbhishekHiremath
cadila mein tha breakout,got stopped out thanks to the profit booking yesterday
Reply
sankarghatak AbhishekHiremath
@AbhishekHiremath, as i am free user limitations are there to post much more analysis. Agreed with your analysis also.
+1 Reply
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