With Pharma sector looking all set for a second leg of rally, many pharma stocks have given a breakout.
I can see that Dr. Reddy NSE:DRREDDY has broken out of the corrective channel which started after a long leg of upmove to begin next leg of rally.
So long as the stock stays above 2200 levels, looks like it is heading towards 2450 and 2600 levels.
Cipla is another stock in the Pharma sector (along with Lupin) which I think has given a Flag breakout yesterday.
The stock broke from the consolidation range of 600 to 622.
So long as the stock stays above 620, looks like it is headed for 660 levels.
Good opportunity to go long here with a small stop loss.
Disclaimer: Views expressed here are my own, and...
With Pharma sector seeing buying momentum again, many Pharma stocks are on the verge of breakout.
I can see that Lupin NSE:LUPIN has given a breakout from the Flag pattern with a large Bullish candle after consolidating between 877 and 924 for a couple of days.
Good opportunity to go long here with a small stop loss for a first target of 972.