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Pharma Stocks will soon begin their Dream Run.All observations of chart
There was Distribution from 13500 to 10750 zone during 2015 to 2016.
Down Trend there after till June 2019.
From June 2019 till March 2020 there was a accumulation phase.
In April 2020 Index gave a range breakout and there was good upside which lasted till mid Sep 2020
As you can see index struggled around 12000 level during Sep 2020 to November 2020.
Finally in November 2020 Index crossed 12000 level and that resistance became support and index again touched the previous all time high.
Now index is hovering in the 13500 to 12000 band, which is the small dip as marked.
Usually when price wants to break a major resistance it gives such small dip.
In other words what we say, One step back two steps forward kind of price movement.
My List of Pharma Stocks for playing out this move:
1. NSE:SUNPHARMA
s3.tradingview.com
2. NSE:DRREDDY
s3.tradingview.com
3. NSE:CADILAHC
s3.tradingview.com
4. NSE:CIPLA
s3.tradingview.com
Besides these there are various Cash Stocks Like Natco Pharma, Star Etc.
HDFC BANK is getting ready to take a Long Drive !''Candles might help light the way.''
:- Steve Nison
1. HDFC BANK was moving beautifully in an upward parallel channel.
2. At the level of 1640-1650 price, Stock faced resistance thrice, then the price started moving in the downward parallel channel in the tight price range.
3. Stock then broke both parallel channels then fall to the price level of 1352.
4. Stock price then halt and took the support at the strong support level.
5. Stock price took the support of 200 DEMA.
6. Stock Price formed Bullish Engulfing Pattern, which suggests that now Bears has now exhausted, and Bulls has taken control.
7. Volume states that the greater the volume, the greater the force behind the. last 10 days volume is increasing, and the delivery percentage is average <50%, which suggests that investors are taking an interest.
Thank you.
Happy Trading !!!
Gujarat Alkalies - Weekly BreakoutGujarat Alkalies has shown a strong weekly breakout from accumulation phase.
We would wait for a pull back to the channel to take an entry - around 380 levels.
Details mentioned in the chart.
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