CNXPHARMA trade ideas
Nifty Pharma Elliot Wave CountsPharma moves slow & are a contra theme to market most of times i.e. when market is bullish pharma is bearish & vice versa this counts shows us whats next for Mr. Market.
Nifty Pharma Index and StocksThe chart of pharma stocks analysed on simple parameter of EMA and Support & Resistance.
In all total 7 stock charts were linked below.
Dr Reddy
Glen mark Pharma
Granules India
Apollo Hospitals
Lupin Ltd
Cipla Ltd
ZYDUS Lifesciences
Thanks
- AJ
Nifty Pharma Index: Head and Shoulder formationIn NSE:CNXPHARMA an Head and Shoulder pattern is seen.
The current price of 12775 is the neckline.
Trade :
You can not trade in Nifty Pharma. But you can in PHARMABEES ETF.
Buy (Pharma Index): Above 12835, SL: 12800, T: 12885/12940
Sell (Pharma Index): Below 12800, SL: 12835, T: 12765/12750
nifty pharma nifty pharma 12700 ke niche SELL karo because in daily timeframe pe Head & Shoulder fourm hwa hai
CNX PHARMA | Flag Breakout | 27% UpsideNSE:CNXPHARMA
Flag Breakout on Monthly Charts
Monthly Closing above 50 Month EMA & trading above all long term EMAs
RSI in Bullish Zone
Next Targets : 14700 - 16500
Upside : 27%
SL : 12100
Time Frame : 6 - 12 Months
Participate via PHARMABEES, PharmaFund
Nifty Pharma on the way upAfter a long down trend Pharma sector finally took support at weekly demand which was create just prior to breaking previous ATH and was reaction to few fresh orders left at supply zone. The demand to which price reversed is flag pattern and authentic level.
#NiftyPharma breaking out from a year long trend line support#NiftyPharma is breaking out from a year long trend line support.
Successfully withstand the breakout for one week.
Long move is expected.
berishmultiple resistance on weekly charts my levels @13510 ,if we closed decisivly above this then after i m bulish otherwise sell on rise
nifty pharma breaking trendlinenifty phrama trendline breakout after good consolidation. phrama stock in focus.
#ABBOTT , #ZYDUSLIFE , #DRREDDY etc
Disclaimer:- I am not SEBI registered analyst. Only for information and education purpose. Please consult your adviser before investing.
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Formation of Bullish Momentum in Pharma SectorNifty Pharma : looks very attractive and ready for a bullish leg ahead..
Fundamentally has heavily consolidated/corrected in the last 1.5 years post COVID rally.. Heavyweights are showing bullish momentum!
Technically was into a bearish trend, falling in an inclined wedge.. Didn't fall below the previous lower low, shows the reversal sign.. Given a bullish breakout in the small term with a C&H pattern.. On the verge of Bullish Wedge breakout for mid-long term..
Upside Resistance : 13500, 13980, 14570!
Strong Support : 12200
#CNXPharma #Niftypharma #Bullish#Niftypharma: It retraced exactly to 0.382 & appears completed 4th wave. And is all set for 5th wave. It is also awaiting a channel BO on weekly. Keep eyes as target are reasonably good.
CN Pharma - NIfty PharmaVery good trend reversal candle on 19th Sep.
beautiful daily trend breakout.
trend up.
any pullback to be bought into.
important trend lines marked.
Crucial Level marked.
Follow for more updates.
Like and share the idea with your trading collegues / friends.
CNX PHARMANSE:CNXPHARMA
11700_12050 & 10400_10800 are good support zones for TREND REVERSAL for minimum 18000 to 24000 in MID-TERM which is almost 50_100% from cmp. In LONG-TERM expecting index to hit 33000_37000. So look out for fundamentally good Pharma stocks which are near good support zones or hovering above BREAKOUT RETEST ZONES & start accumulating them for multibagger returns in MID-TERM to LONG-TERM.
Just think how stocks will perform when index moves 100%
DISCLAIMER:
Views expressed are purely based on #TechnicalAnalysis for educational purpose only.
Trade/Invest at your own risk.
NOT A SEBI REGISTERED ADVISOR.
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
CNX Pharma - In a channelAs seen on chart, CNX PHARMA in a downward sloping channel and looking for 11200 if unable to cross 12980....
Look for weaker stocks in pharma....
Nifty Pharma as on 31 Aug 20221. Nifty Pharma is in descending channel on daily timeframe.
2. It’s bearish on weekly and Monthly timeframe also.
3. Wait for “W” pattern breakout or Resistance line breakout (red line) above 13115 level for bullish trades.
4. 13115 to 13200 is major resistance zone. If this zone is crossed with strong green Candle on daily time frame and 13115 is retested and becomes a support zone it’s a bullish indication for Pharma sector.
5. Target after this retest can be upto 14000 level.
6. Major support is at 12293, Nifty Pharma has retested this level 4 times on daily timeframe in recent past.
7. As per “W” pattern if double bottom is made somewhere near 11750. Risky traders may call it bullish with a target of 13115 and 14400 level.
These are my personal views for educational purposes only. Please consult your financial advisor before investing.
Happy trading :)
NIFTY PHARM read to break out of downward channel.In this beautiful weekly consolidation NIFTY pharma is closing in on its breakout level. I'm expecting it to test ATH in coming months. Pharma stocks now is the time.
