Pharma & IT are beaten down sectors for last couple of years or so. With nifty near all time high, market will be hungry for ideas. There are signs of smart money moving in these sectors in the last couple of months. By the end of 2017, these two sectors might well be the star performers of 2017. Positional traders might take positions in pharma & IT stocks.
What makes a trader successful? Do you think it is technical knowledge? A good trading platform? Money? A proper mindset? A trader can blow off everything when he dont have a proper mindset. What is a proper mindset? You should have a sage or monk's mindset. I am not joking. This is the truth. One should overcome fear, greed, anger, ego and frustration to be...
For Short Term, will trade with Positive Bias on Pharma Stocks in short term.
It is been observed that the pharma sector trending in a downward trend channel and now breaking out from a small channel pattern highlighted in blue shade. With the sector trending down and moving down, it is indicating a selling pressure in all other pharma stocks like biocon, sunpharma, cipla, Ipca, and Drreddy's. Therefore, I believe it is a good time to short...
The chart of CNXPharma suggest it ll move downwards and take most of the pharma share down.