Ongoing Pharma/Drug Stance from Trump may force Indian Pharma Space into a short term downtrend, Aurobindo's foothold is strong in Europe than US, they plan to expand more in Europe than US. if available within Accumulation range, one should buy and hold for medium to long term!!
"NIFTY" Observation and comparison with 2008 and movement ahead
(((same movements with shorter time frames)))
1) It should bounce back from 85 DMA
2) Correction continues and Breaks 85 DMA
3) Take support at 200 DMA and fresh BULL RALLY starts!!
GREEN Line (470) has acted as historical resistance twice
Same GREEN Line (470) then became a strong support during end of 2015
GREEN Line (470) acting as support one more time now...I am highly bullish about trend reversal from this point. one may start accumulating.....next quarter results will be good too.
Mid term safe target 700 ( 4 to 5 months) almost...
RED, BLUE and GREEN line already described on the chart.
Close above blue line in coming session may bring a confirmed pull back...minimum of 10 to 12 % can be expected from CMP 433.95
