Cipla after the correction again taken support at 700 which is now strong support for cipla and now cipla holding himself above the 100EMA
Which is good and on last trading session cipla made it to cross 50EMA too and closed above.
Buy cipla at current or any minor dip for the first target of 795/850 with stoploss of 725.
nifty FMCG preparing itself forthe breakout from inverse head and shoulder pattern and this breakout is exist above 32000
and with that Some of the heavy weights in FMCG are also ready for the breakout Focus on them (dabur,HUL,tata consumer,MArico)
may be the december and January series belong to FMCG Because of Budget ahead in February.
Deepak fertilizer making rounding bottom pattern on daily chart AND the completion of this pattern is around 180-188.
Buy deepak fertilizer at current 140-145 for the target of 155/160/170 with stoploss of 132.
ABBOTT india again having support around it last correction support and showing sign of reversal again from the same support and hold itself above the 200ema.
Abbott india having strong support at 14800 to 15200 which is 200ema on daily chart.
BUY ABBOTT for long-term target of 20000.
Its seems like Whenever nifty made this pattern on daily chart A little consolidation came into market and the support of this consolidation is at 12700 nifty holding this level in each correction.
the range of this consolidation in between 500points make your trade as per your planning.
Dr reddy having strong support around 4650 and showing sign of swing reversal and try to sustain above this level and having hurdle around 5000 breakout of 5000 will definitely lift the stock to 5600.
Initiate buy in Dr reddy for target of 5200 and 5600 with stoploss of 4657.