Pharma Stocks will soon begin their Dream Run.

varadtambolkar Updated   
NSE:CNXPHARMA   Nifty Pharma Index
All observations of chart

There was Distribution from 13500 to 10750 zone during 2015 to 2016.
Down Trend there after till June 2019.
From June 2019 till March 2020 there was a accumulation phase.
In April 2020 Index gave a range breakout and there was good upside which lasted till mid Sep 2020

As you can see index struggled around 12000 level during Sep 2020 to November 2020.
Finally in November 2020 Index crossed 12000 level and that resistance became support and index again touched the previous all time high.

Now index is hovering in the 13500 to 12000 band, which is the small dip as marked.
Usually when price wants to break a major resistance it gives such small dip.
In other words what we say, One step back two steps forward kind of price movement.

My List of Pharma Stocks for playing out this move:





Besides these there are various Cash Stocks Like Natco Pharma, Star Etc.

News out in favour of Pharma sector 😃

Hope it plays out as planned!
Now back to back 5 green candles on chart, expecting a dip now!


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