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PHARMA

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! Follow me for more. Note: These are my own independent views, take trade as per your own analysis.
NSE:LALPATHLABLong
by Aayushjain_
3
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.
NSE:NIFTYShort
by Algokart