SYNGENE has consolidated enough below 550 levels and is ready to take off towards 600 soon. RSI hourly showing strength but the price is almost flat. Signifies accumulation by smart players. The price has just crossed downtrend line and any move above the box (drawn with last 10 candles) could give a sharp upmove.
Parabolic SAR indicator (PSAR) also confirms upmove with minimal SL. Though in this type of fundamentally strong stocks, investors need not put any SL rather add more on dips.
Fundamentally too, this pharma research company has strong business model as it deals in providing research and manufacturing services to other major pharma companies.
Long Term Investors can accumulate this stock at current levels 545-550 with a view of 3-6 months.
Parabolic SAR indicator (PSAR) also confirms upmove with minimal SL. Though in this type of fundamentally strong stocks, investors need not put any SL rather add more on dips.
Fundamentally too, this pharma research company has strong business model as it deals in providing research and manufacturing services to other major pharma companies.
Long Term Investors can accumulate this stock at current levels 545-550 with a view of 3-6 months.
Comment:
Target of 600.00 achieved today (within 10 days). But this stock is worth holding for at least 3-6 months. Further upside of 10% within short period can't be ruled out. Long term investors can add more on dips. Any dip in this stock is a buying opportunity.