the main chart with volumes and hollow candles, is of suven life science, the colored candle is of sunpharma, volumes for whichhas been not overlayed..
interestingly during this accumulation, there seems to e a bit of divergence in action between suven and sunpahrma, which is very atypical...
with the weekly and daily indicators, unprepared to call ti a bottom/ time, for an upmove right now, but it ertainly denotes, a positon structure in the massive fall specially in suven...
while, fii/fpi were net sellers in the headline market, the shareholding pattern of suven reveals, that during this quarter, they ahve actually pumped into suven life sciences...
which is not surprising, since almost entire of the suven's revenue is in dollars, so while, the market can worry about the greenback leaving to home, investors in these scrips like suven, can have the best possible hedge...
also i am surprised, that brokerages liek hdfc and sharekhan has come up with rubbish earnings forecast in suven life sciences, the dollar itself has appreciated over 10% and they are projecting 12% growth in topline numbers and qoq down... it amazes me, with lesser R&d spending aiding the margins most probably, and 7 projects moving up phase trials, how can those estimates be of any light..!
no wonder, the earnings estimates of hdfc and icici has been smashed to shame, in alembic pharma in q2 earnings...
so anyways, the shareholding pattern is as of September 2018, the accumulation which i think is happening, is dated since October...
so someone else might be reducing the retail float, may be more fii/fpi accumulation? ...
anyones's guess....
bottom fishing a volatile scrip like suven is going to be a game for not the faint hearts...
stochastic in the weekly chart, is going to be the best possible indicator to aid entry into the bottom of this scrip...
also the 200day ema and sma region which is being approached now is going to be another check...
disclaimer.... sitting on cash to bottom fish and average up suven...
no current investment in this scrip..
not an investing/trading recommendation
interestingly during this accumulation, there seems to e a bit of divergence in action between suven and sunpahrma, which is very atypical...
with the weekly and daily indicators, unprepared to call ti a bottom/ time, for an upmove right now, but it ertainly denotes, a positon structure in the massive fall specially in suven...
while, fii/fpi were net sellers in the headline market, the shareholding pattern of suven reveals, that during this quarter, they ahve actually pumped into suven life sciences...
which is not surprising, since almost entire of the suven's revenue is in dollars, so while, the market can worry about the greenback leaving to home, investors in these scrips like suven, can have the best possible hedge...
also i am surprised, that brokerages liek hdfc and sharekhan has come up with rubbish earnings forecast in suven life sciences, the dollar itself has appreciated over 10% and they are projecting 12% growth in topline numbers and qoq down... it amazes me, with lesser R&d spending aiding the margins most probably, and 7 projects moving up phase trials, how can those estimates be of any light..!
no wonder, the earnings estimates of hdfc and icici has been smashed to shame, in alembic pharma in q2 earnings...
so anyways, the shareholding pattern is as of September 2018, the accumulation which i think is happening, is dated since October...
so someone else might be reducing the retail float, may be more fii/fpi accumulation? ...
anyones's guess....
bottom fishing a volatile scrip like suven is going to be a game for not the faint hearts...
stochastic in the weekly chart, is going to be the best possible indicator to aid entry into the bottom of this scrip...
also the 200day ema and sma region which is being approached now is going to be another check...
disclaimer.... sitting on cash to bottom fish and average up suven...
no current investment in this scrip..
not an investing/trading recommendation