CNX PHARMA. Counter rally over and Time to Resume its Downtrend CNX PHARMA Gave nice Counter Trend rally Since August 2017 to November 2017 1st Week. Looks like it will Resume its DownTrend Trend Again.
Pharmastocks
CIPLA 9th November, Day Trade ( GAP FILL ?)When 1st Target Achieved Book 60% Quantity.
And Trail Your SL to Entry Price.
No Technique Can make money for you, if you don't follow disciplinary principals.
Risk Management & Position sizing is must before entering any trade.
Aurobindo: Will This Pill End The Pain ?! contd..This is the continuation of my previous long term analysis on Aurobindo
As expected Aurobindo took nice support at 580 and rebound sharply upto the falling trendline of the downward sloping channel.
Volume-Spread:
As expected stock seems facing resistance near 620-630 levels. The volume however is declining.
Stock had a huge volume at 'a' but long wick at the top says supply is there at 607.
As this resistance level is crossed at 'b' we dun see a spike in volume, suggesting declining demand.
A new high at 'c' but further declining volume, even less demand.
New high at 'd', price juuuust crossed falling trendline with rise in volume but doji bar says indecision. So may be some profit booking started.
Notice that the price declined thereafter that but volume is not picking up, it suggests that bulls are still holding and bears are not still active.
Currently it is trying to build a support near 598 level. Although these are signs of consolidate near resistance yet I would say that, as mentioned in my earlier post, 580 is a key level to watch out for. Holding or breaking this support may decide the near term future of this stock.
This is just an analysis and not an investment advice. I always respect if you have your own different opinion on the stock.
Thanks
Like, comment, share and follow.
Bears In Control!Reasons to Short :
1. Cloud Breakout
2. pullback at 38.2 Fib Level
3. Resistance at 50 period EMA
4. Wicks at 1162 Resistance level.
5. Evening Star
6. Downtrend, obviously :)
Entry, SL, Targets are as plotted on Chart.
STAR Buy Bullish 3LR at Channel !Ascending Channel offers simple trade on both the edges or for the trend follower only long trade on lower boundary. The stock has shown strength on 20.03.17 forming a bullish 3LR pattern and any retracement could be used to enter long trade. Stop loss 1118 on closing basis target 1200.
Cadila Forming "FLAG" PatternCadila Health Care prices are forming FLAG Pattern and prices are expected to trade higher if prices are able to break & sustain above 455 levels. prices can trade higher till its pole size. As per the pattern we can expect prices to trade higher till 555 or levels.
LUPIN BUY (LONG)Lupin is a BUY at CMP@1470 with SL@1420 for a target of TP@1600
Lupin gets USFDA nod to market pain relief, colonoscopy drugs and also gets FDA approval for generic Percocet tablets .
Lupin recently received FDA approval for generic Suprep Bowel Prep Kit and Suprep kit approval It may add 5% to Lupin’s EPS for FY18 earnings.
In addition the pharma major’s Goa facility has been cleared by the US FDA.
Lupin Result: Revenue grew 26% YoY to INR 44.8b Gross margin was stable QoQ at 71.0%. EBITDA rose 27% YoY to INR 12.2b with margin of 27% . EBITDA margin improvement was primarily driven by strong growth in US sales (+53% YoY, +8% QoQ; despite R&D as % of sales at 12.9%) and forex gain of INR 270m. PAT of INR 6.3b was impacted by 1% due to a high tax rate of 39%.
Lupin is a BUY at CMP@1470 with SL@1420 for a target of TP@1600
Sun Pharma - Decisive levelSun Pharma is now at a multi-year horizontal - SR level .
You can see the levels go back upto 2013 which make them important.
Fellow traders are suggested to trade as they decipher this chart in their own way .
Cheers !!
