pharma sector should recover now.
Updated
cnx pharma touched the downtrend channel support and reversed. It is giving bounce back, but overall trend is down.
Note
Another version of channel, Note
regular bullish divergence seen in daily. Trade active
closed at 8902.05Trade active
moving up as expected 9071.70Trade active
till now 9140.Trade active
till now 9270.Note
In daily, price closed above upper bb on Thursday, and bb is expanding, sign of bullishness. Trade active
Here is the weekly followup chart Trade active
bounced from trendline support, it should now move towards the channel resistance. Trade active
price moving up smartly, after bouncing from trend line support. till now 9477.75. Trade closed: target reached
price finally reached the channel resistance, cheers, Note
cmp - 8966.30, price cam down from the channel resistance took horizontal support at previous low, then started moving up, looks like long term reversal is in progress.
Note
cmp - 8445.70, in weekly, horizontal support turned to resistance , also price unable to break 20 SMA. looks bearish
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