this hit our first target now looking to go for the 2nd at 59.10.
46.30 is a very busy resistance area so expected a wee pullback the question now is do we flip this into support or go down to 34.15.
Either way you know what to do in both eventualities as the markets open . levels on the chart.
Cheers.
Please refer to earlier HTF chart for bigger picture.
Date: 04 Aug 2020
Marksans Pharma (CMP: 41.60)
Ascending Triangle Pattern formation with MACD breakout and strong RSI signals.
Fundamentally its a good company with strong growth in YoY quarterly profit and sales. Virtually debt free company.
Target 48.50. Profit potential 16%.
T1-42.50, T2- 45.50, T3- 48.50; SL- 36.50
Just popped its head over 34.15 resistance and has come back below might dip to 32.50 where its a decent place to enter keeping in mind the 50 day is moving up offering support on the daily.
This used to be owned by Glenmark then got was let go , looks like its trying to break bad on its own.
46.30 is a busy area so would look to get out there or possibly 48ish...
