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Marksans Pharma- No targets, Just want to observe the Pattern !!
Intresting trend !!
Current Dt:- 01-oct18
Can exhibit a further up move or down move depending on further confirming price action at resistance line/ rounding bottom formation.
Fundamentally the stock is not in a bad position.
If price action breaks out in bullish manner, one can go long for medium to long term
Volume is good
Break above level
Monthly and Weekly looks bullish
Trading in overbought zone
Nifty and Nifty Pharma are unhappy
Positive Break out on Uptrend
i see the stock has less to loose and more to gain ! thus risk reward is fare enough to carry long!
Marksans Pharma Ltd Seems to be in a demand zone on a weekly chart.
After a downtrend (shown by red line), Share formed HAMMER followed by MARUBOZU (shown in box). RSI is also supporting price rise (marked by green arrow). All these things indicate that Share Price will go up.
MARKSANS pharma at bottom levels again.
Buy and hold for double.
I believe Marksans Pharma has the potential to give good returns in long term.
The stock gave great results on QOQ basis with from a loss of 8 lakhs to a profit of 14.5 crore thats good on every scale.
The only thing that concerns me is the P/E ratio which is way above the Industry average of 20.
**Credit Rating for Marksans Pharma ...
This Analysis is for watch purpose only. No trade to be taken based on this Analysis.
Bullish cross over on weekly charts on Aroon indicator and indicates a change in trend . Close above 54-55 levels can see this stock touch 60-64 in short run and 84-100 in a years time.
Looks like a buy to me
immediate target 48-50, after breakout 55-59
Near strong Support, If support is held it will make an attempt to reach resistance zone of 55-58.
round 2 of the rally it seems