The Pharma sector is been pushed up based on the idea that due to corona the pharma sector will benefit. But one can certainly say that there is no structural or fundamental change in the business. Hence I think this rally in pharma is only temporary.
Based on the delivery % and depending on the total traded quantity. I think from 13/04/2020 the stock will start...
The company q3 results will be announced soon.
before that the company decides to buy back shares worth 9000 cr.
A normal conclusion: The company knows that the results are going to be good and then the price will appreciate and they would benefit from the buy back
But SEBI denies them for a buy back "Since the ratio of the aggregate of secured and unsecured...
The chart is moving in a narrow range and has created a triangle chart pattern.
ADX is also indicating the strength in downward direction
RSI indicating the stock is loosing it's strength in is ready to go down
Stock selected as the overall NIFTYIT looks bearish on daily time frame.
The stock is forming a lowering wedge pattern.
IF lower trend line is broken
Then Stock will move towards target 1 NSE:TATAELXSI