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.
Bottom on multiple timeframes. March is the Pharma month! target- 63
Add Marksans Pharma for short term. Buy upto 50... targets can be 80-95.
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.
Marksan downtrend follows.. it might bounce from this support line
Stock has given good breakout from critical resistance zone of 58-55 Dips to these zones can be bought Next resistance at 74/86
- Monthly/ Positional - Risk Management/ Position Sizing
Stagnant highs, rising lows most certainly breakout sooner or later. Prices tend to touch both vertices of the triangle till reaching the triangle top. Patience is key in triangle patterns.
The stock broke out after months-long consolidation, and gave a brief low volume pullback. A CANSLIM stock, will soar higher in days to come
Stock - Marksans Pharma CMP:- 58.90 Target are :- 72 , 88 and 100plus SL:- 48 on closing basis The stock has given a clear bullish breakout of a Flag pattern on Daily Charts and has cross the level of 58 after 4 years of consolidation
F U SEE THE DAILY CHART ITS A LONG ACCUMULATION BY BIG PLAYERS FROM AUGUST TO ALMOST DECEMBER START THIS STOCK IS TRADING AROUND 60 LEVELS, ACCORING TO WHAT CHART SAYS IF IT BREAKS 70 WE CAN SEE A BLASST TILL 100 LEVELS SL CAN BE 55rs ON WEEKLY CLOSING BASIS
positive results, buying volumes and technically positive
Will update soon...