PHARMA
Biocon - The Rise of Beaten Down !!The triangle pattern in the channel pattern indicates either a breakdown or breakout.
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for educational purposes only.
always follow risk-reward and quantity management for the 100% of the times
The above mentioned idea may not work, so beware of the risk you are taking
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Happy Trading!!
Alembic Pharma: Trending higher for a new ATHThe stock was in corrective mode while all other pharma names were making new highs. It gave good Q1 results. 2 new plants are getting operational soon which should provide operational leverage. Very positive for long term. In terms of technicals, it gave strong BO from its falling trend channel and is now making higher highs. With the RSI also trending higher, the stock should reach ATH soon. Plan to add more in coming days.
LUPIN - BULLISH - ASCENDING TRIANGLE"Company launched cancer drug Lapatinib tablets in the US". This news may or may not have an impact on the stock, but the pattern and the price action clearly gives a bullish indication. Please follow strict entry and exit rules to minimize your loss as well as maximize your gains.
Entry - above 1023
Target - Trailing stop-loss
Stop-loss - below 1020
Look at the charts and make an informed decision.
Thank You
Happy Trading
Beware of risk involved in stock market and this is for educational purpose only.
Dr. LAL PATHLAB SETUPThe stock has taken support on its Long term trendline, and Now 2 things can happen:
1) The Pharma Sector is strong and there is lot of positivity around this stock so there is a very good chance that it will respect this support and will show good bullish movement from the coming sessions.
2) The stock is over priced because of recent Heavy upside movement, moreover there is a double top formation which shows bearishness and if it breaks the double bottom support the it might go for the correction as shown.
So, all we need is to wait that at which side it stays, its a good entry side for both long and short!
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Note: These are my own independent views, take trade as per your own analysis.
Pharma Rally | CADILAThe stock has been following a wedge pattern and has rebounded from wedge support in the last trading session.
The stock has also given a breakout from the trend line.
Macd is also showing trend reversal.
Buy @ 375-380
SL - 363
NIFTY falls 100 points in 20 mins! Nifty - Technical Analysis:
-NSE Nifty 50 index fell for second straight session dragged by weakness in banking, financial services and FMCG shares.
-NIFTY was sustaining above 11550 for the first session of the day but witnessed high selling pressure during the last hour and was brought down.
-It bounced from the 200SMA in 1hr candles for the second time indicating support there.
Market - Driving Factors:
-For most part of the day, benchmarks traded in a range bound manner with a positive bias. However, intense selling pressure in banking shares in the last hour of trade led to weakness in the benchmark indexes.
-Among the sectors, the Nifty Pharma jumped 5 percent hitting a 5-year high while on the other hand, banks fell led by Kotak Mahindra Bank, HDFC Bank and SBI.
-Dr Reddy's Cipla, Adani Ports, Bharti Airtel, and M&M were the top gainers while Kotak Bank, HDFC Bank, Shree Cements, Bajaj Finserv, and Maruti led the losses.
Nifty - Outlook for Monday, 21th September:
NIFTY is witnessing selling pressure and we have a bearish bias. If NIFTY breaks the 200SMA we can see more selling towards lower levels. Pharma continues to be the momentum sector while banks could take a back seat while IT and pharmaceutical will take Nifty higher. midcap index has a target of 18,500 while small-cap index could move to 6,700.