It looks that sector rotation is on the way & pharma is likely to perform better compared to Nifty & Banknifty. Pattern wise Auropharma looks better it has formed double bottom on daily charts, I believe it is very strong chart pattern & so the stock should perform better going ahead.
Banknifty has gone on to make new high but when i checked on weekly chart 25-day ROC with
20-day EMA on it. As can be seen ROC is unable to go above 20-day EMA. If you check in the past such divergence calls for correction in the market.
Justdial has been going down sine late 2014 but it may breakout above that trend line & after that it can be huge spurt in the price. So get ready to buy above trend line Break as it will be significant breakout. When occurs.
If there is one sector that did exceptionally well in past year it was metal. But every Trend bends at some point. I think after all this euphoric bull rally it is getting ready for some strong corrective move.
KSCL is witnessing good support at lower levels. There is this long term trend line it is about to break and the breakout can be very violent, so one should buy near trend line support if it falls in coming trading sessions. Buy March or Feb contract as it could take time to break from this zone.
On Monthly charts of biocon it is very apparent that price is getting rejected at higher levels. Now there is argument about it being fundamentally strong & nothing can go wrong but markets currently flashing the signal that price is getting rejected at higher level.
Leaving you with the quote from fooled by randomness - "Even if you know what is most likely many...
Nifty has fallen 250 points over last few sessions but ROC has managed to stay above it's Moving Average on daily chart But on weekly the picture is pretty scary so we might get some pullback from here but one should be selling into it as medium term trend is weak we might get some pullback looking at daily chart.
This is follow up article to my previous 2 articles on biocon.
1)Today it has broken it's trend line support.
2)On weekly chart there is Bearish Engulfing pattern.
3)The stock is already up 100% in 8 months on weekly chart it looks like parabolic move.
4)I have been reading on moneycontrol most analyst are recommending Buy on Biocon.
Let me know your thoughts if any,