pharma sector should recover now.
cnx pharma touched the downtrend channel support and reversed. It is giving bounce back, but overall trend is down.
Comment:
Another version of channel,
Comment:
regular bullish divergence seen in daily.
Trade active:
closed at 8902.05
Trade active:
moving up as expected 9071.70
Trade active:
till now 9140.
Trade active:
till now 9270.
Comment:
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,
Comment:
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.
looks like long term reversal is in progress.
Comment:
cmp - 8445.70, in weekly, horizontal support turned to resistance , also price unable to break 20 SMA. looks bearish