Double Bottom or DownTrend to continue?Last Leg of Bear run in Pharma, If We close below 8250 on daily charts, get ready for 7400. which is ultimate support and the Bull run should start in Pharma.
CNXPHARMA trade ideas
CNXPHARMA: He, who protect NIFTY.All mentioned & plotted on Chart.
My personal View. If matched, Like & Share
As i am not SEBI regd. analyst, take this study as educational purpose.
For taking trade decision Consult with financial Advisor.
CNX Pharma Positional Long TradeCNXPHARMA has consolidated for long, it has established a higher bottom formation and has given a good breakout on daily charts. Given that this sector has underperformed and has lot of catching up to do, its a low risk entry at these levels compared to other sectors.
Nifty Pharma(9326): #BullishDivergence #50DMA keyPharma index has recently shown bullish divergence
and moved up from sub 9000 levels to 9400 levels
this past week.
Past couple of days price has closed with
shooting star @ 50DMA & supply zone.
Going forward 9170-9230-9270 will act as support,
till these levels are not broken expect price to
retest 9400-9420
Break above 9420 will further strengthen move towards
9650-9670
In case 9150-9170 is broken profit booking upto
8975-8920 levels will be seen
Nifty PharmaView:- Bullish
T1-9800
Need close above 10200 for changing trend...
Keep Eye
#NiftyPharma
@caparas_gangwal
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.
Will Nifty pharma going to fall ?Wedge pattern formed and broken in Nifty Pharma.
Trade Levels:
Short level - 9395
End level - 8985
CNXPHARMA: at FIB R 0.798. can we see some relief bounce ?In WEEKLY Basis at FIB R 0.798.
can we see some relief bounce ?
Or
Down to FIB R 0.886 at 8117 level.
CNXPHARMA As of NOW: at 8693.85
If Bounced who leads the rally ?
Stocks to watch: LUPIN, GLAXO, GLENMARK, PEL, SUNPHARMA.
Though there are some more stock like BIOCON (not in Index).
List of Non index Pharma stock having potential to Decent Upside will be updated Later.
If Down to 8117 level, i.e 575 point from Current level.
Good opportunity to Accumulate.
Specific Series of Pharma stock Analysis will be Published in coming Days.
I have had an observation,
When In NEWS Channel, Punters, Fund Houses (Both Indian & Foreign) Shouting all together for Downside - means "They Accumulate for Bigger Run' & vice-versa.
Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
LIKE / Comment /Share, If useful & enriched your knowledge e.
With Warm Regards.
DSKF16.
pharma sector should recover now.cnx pharma touched the downtrend channel support and reversed. It is giving bounce back, but overall trend is down.
Pharma Index at long term supportCNXpharma has possibly bottomed out at 8315; atleast for the medium term
1. Completion of ABC correction (A=C)
2. Recent low at 8315 sits rights above a major consolidation zone
3. Recent Low also falls along a trendline support
4. RSI divergence on weekly and daily charts
A full EW count is not possible since the index is barely 4 years old and its constituents are much older.
worst is over for pharma or yet to ?pharma sector is a under performer since 2015. the most secure sector came into the grasp of policy makers. traditionally pharma out perform when nifty is down, but this time will it be as usual ?
CNX PHARMA Pharm index is within the range on Daily basis, and taken support exactly at the bottom of the range, which should be some bit of good news. If does not break this, then can expect reversal next week ...
Add All pharma stocks from @ 7500 lvl if holds ...for 9800 turnAdd All pharma stocks from @ 7500 lvl if holds ...for 9800
turnaround would be min 2 yrs span ...so only investment cash can be done here ...Rise would be so sharp...
CNX Pharma, Support LevelsCNX Pharma, Support Levels.
CMP 8766
Support 8630
Next Major Support at 7412
Pharma index at the verge of breakout! Invest for long term CNXPHARMA index is at the verge of breakout.
If anyone yet to buy any pharma stocks, can enter safely for long term after this breakout confirmation.
Watch out for DRREDDY AUROPHARMA on Monday.
