CNXPHARMA (Nifty Pharma index) study
Indicators are slowly turns from negative to positive side. Targets mentioned in the chart. Vijayaraghavan, Kovilpatti.
Nifty Pharma index (CNXPHARMA) channel study
Pharma stocks have been doing ok for some time now. Considering the fact that they were coming from dead, there was still a lot of skepticism around though. Today pharma had a break out day that should covert the non-believers. While the likes of DIVISLAB and AUROPHARMA has a day in the Sun, there are better bets out there. GLENMARK here has just broken out and...
CNXPHARMA index is at the verge of breakout. If anyone yet to buy any pharma stocks, can enter safely for long term after this breakout confirmation. Watch out for DRREDDY AUROPHARMA on Monday.
Pick AJANPHARMA as mid to long term investment. Targets and SL on the chart
- The index level retraced to the 20 day SMA - Even though there is a little further to go for 61.8 % Fib level, hanging man pattern is clearly visible on the chart - Looks like a reasonable risk/reward play on the short side considering above two factors - Sunpharma, Auropharma, Biocon, Wockpharma etc seem like a good bet
It is been observed that the pharma sector trending in a downward trend channel and now breaking out from a small channel pattern highlighted in blue shade. With the sector trending down and moving down, it is indicating a selling pressure in all other pharma stocks like biocon, sunpharma, cipla, Ipca, and Drreddy's. Therefore, I believe it is a good time to short...
The chart of CNXPharma suggest it ll move downwards and take most of the pharma share down.