nano6yogesh

Wockhardt - Downtrend resumes ?

Short
NSE:WOCKPHARMA   WOCKHARDT
With Pharma index failing to hold 8300 levles, looks like the pain in Pharma stocks is not yet over.

After a long downtrend, we can see that the stock price for Wockhardt NSE:WOCKPHARMA got rejected after retracing about 38.2% of the previous downmove.

I can also see that it broke the 23.6% level as well with a large bearish candle on Friday.

Good opportunity to short here with stop loss a few points above 684 for a first target around 608 levels.


Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.