Technically Pharma index is on the verge of giving a cup and handle like breakout in addition to news of new COVID variant making waves. The Pharma index also looking very buoyant. If this particular index can give a closing above 16515 there can be an upsurge 16734 or even 17177 levels taking the index constituents higher along with it.
Major companies in...
Glenmark recommended earlier at 479 did 835 within 3 months.
Strides Pharma recently recommended at 310 and again at
and Many more
Some Stocks that I like
1. Ajanta Pharma
2. Kopran
3. Lincoln Pharma
4. Strides Pharma
NIFTY PHARMA index shows very interesting FIBO retracement and FIBo projection confluence.
The FIB retracement is drawn from 11542 to 16385 shows levels of 15242 - 14535 , while the projection from 11542 to 12688 and placed at 12040 shows projection of 13236 - 14550 - 15994.
The FIBo level for both meet near 14550 indicates strong support area.
The Eillot...
Pharma Sector and its components are in correction phase
NSE:CNXPHARMA sectors NSE:DIVISLAB , NSE:SUNPHARMA , NSE:DRREDDY have created same structure as NSE:NIFTY
NSE:DIVISLAB , NSE:SUNPHARMA , NSE:DRREDDY daily candle close below level.
We can see all targets along with NSE:NIFTY , $NSE:CNXMETAL.
Disclaimer - All information on this page...
pharma sector make a pol and flag pattern in big time frame. now sector showing good volumes. may be upcoming weeks we see a breakout and see big moves
From a price action perspective there is a higher probability for the pattern to repeat and a slow reversal move to happen. This might take months to happen.
Until price reached the low of the channel line as per my view, I'll not dare to take an entry in the sectoral ETF.
Sometimes the pattern might evolve for sure but until that happens my view stays the same.
Nifty Pharma had failed to close above 14800 on the weekly chart on two occasions in 2021. Has finally given a breakout and close above the level this week.
Keep an eye on pharma stocks.
❤ & follow for more.
Nifty future and banknifty future analysis and intraday plan in kannada.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
#CNXPHARMA The next sector to focus on!
The relative Strength chart of #CNXPHARMA/#NIFTY50 is currently at channel support. Index is at major support as well
KEEP PHARMA STOCKS ON YOUR RADAR
In the Weekly Chart of CNXPHARMA ( Nifty PHARMA ),
we can see that, 3 week of up move with Strong Candles.
Let Pharma Stocks Retest for 1 or 2 week, Then We can se a more Stronger move.
#CNXPHARMA The next sector to focus on!
The relative Strength chart of #CNXPHARMA/#NIFTY50 is currently at channel support. Index is at major support as well
KEEP PHARMA STOCKS ON YOUR RADAR
It is showing the strength. Generally in weak market Pharma & FMCG show strength. Any follow up here will give good upside in no time. Just keep strong counters in watchlist or one may try with heavily beaten up stocks from the sectors. Heavily beaten down will give far more risk adjusted returns than stock which are strong but to catch the falling knife is really...
CNXPHARMA 23-03-2023
Looking for Investment Opportunities
Reasons:
1). Taking Support from S2-S3 Monthly buying zone
2). H-M gives Buying Signal
3). Crossed Above Developing Weekly CPR
4). SL two closing below S2-S3 BUYING ZONE
Try to find Buying Opportunities in Following Stocks :
Alkem Lab
Aurobindo
Biocon
Cipla
Divis Labs
Dr Reddys
Lupin
Sun...
It seems at interesting point. It has not performed since long. Round Level of 11500 on monthly basis should be hold. It is near 40 Month moving average also.
