Weekly TL breakout with good volumes. Retest of the breakout also done. With a SL of 250 weekly closing one can invest for target of 400 and above. A monthly close above 290 and fireworks should happen in the stock. A R:R of 1:4 also makes it a good bet.
After three years of consolidation Cipla has broken out of a cup and handle pattern. Sustaining the previous breakout it has also broken out of flag pattern on daily chart. My view is Cipla can be bought at CMP with a SL of 637 (daily closing basis) for a short term target of 720 . Long-Term targets are 800/840. Risk to Reward of 1:6
With Pharma Index already broken out from trendline. I found Auropharma fundamentally the best company in the sector. Technicals are also good and if breakout of inverse H&S happen immediate target would be 710, short-term target 880 and 1200 would e target for 1 year.
