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PHARMA

Long term trendline breakout with high volume candle.Granules India Limited has made longterm line breakout in daily timeframe. Nifty Pharma is also in upward momentum and this will support Granules India in up trend. RSI is also crossing 60 level and bollinger bands are expanding. Bollinger band are standard deviation of average price of stock and expanding Bands show there are chances of big move in stock. On 30-09-2022, there is huge buying on this stock which indicated that big buyer has shown interest. Stock has target which are shown in above charts based upon immediate resistance. Traders are requested to do their own analysis before taking any trade. This Idea is an educative initiative for new comers in markets. Please Like,share and comment for more updates.
NSE:GRANULESLong
by Darshan_Panchal
6
What we see by analyzing the pharma index with 2 theories.Hey.. What do we get if we analyse one chart with two different theories ? Is it a good idea ? We use different techniques and methods to analyse a chart. Some traders use chart patterns, some use moving averages and others use any other technique. We all did the analysis to determine the trend of that instrument. What if we use two different theories for the analysis ? It will give us a more accurate view for that instrument. Lets check the analysis Nifty Pharma Index Daily Chart by 2 different theories of Chart Patterns and Exponential Moving Averages. Chart Pattern A symmetrical triangle pattern appears on the chart. And today we see the Breakdown of the pattern. The breakdown of the pattern shows the weakness of the index. Exponential Moving Averages For this we use four exponential moving averages of 20, 50, 100 and 200 periods. We start from the 20th of Jun 2022 when the price is below the all exponential moving averages. From that day the price started its upward move and it crosses all ema's one by one and finally it reached at 200ema on 5th of Aug 2022. During the period of 3 months the all 4 ema's come close to each other. But the price has failed to cross the 200 ema and it starts its downward move. From 22nd of Aug 2022 the price tested its 20 ema and 50 ema but has failed to hold them. Finally on the 16th of Sep 2022 the price closed with a big red candle. The price traded below to all 4 ema's shows the weakness and start of a downtrend. Conclusion: From both theories we see the weakness in the pharma index. So, the stocks of the sector show the bearish move in the coming days. This explanation is for educational purposes. My only intention is to share my style and techniques of analysis. Thanks
NSE:CNXPHARMAShort
by ssvirdi
2