Chart structure looks good on weekly and on daily too. Stock has broken out on weekly a few weeks and retested the BO zone.With a SL below the demand zone and tgt around 85+ risk reward ratio is promising.
Marksans Pharma - Plagued by FDA issues, price have reached bottom in the past years. Hailed as next Glenmark once. Now showing momentum as overall sector is bullish. Good Promoter Holdings and increased FII/FPI participation seen. Can look for long term investment with a stop@ aggressive 50 or 45.
* Consolidate near 0.5 Fibonacci ratio and Rounding Base Formation in bottom.
* Buy above 64.00 with the SL of 48.00 Closing basis and the target is 73.00 and 110.00 .
* Marksans Pharma is engaged in Business of Formulation of pharmaceutical products.
*Company is almost debt free.
* Debt/Equity - 0.03
* Market Cap - ₹ 2,376 Cr.