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
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.
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...