So what's ailing Indian Pharma sector stocks? Those who really looked like on steroids are suddenly behaving like they have swallowed over dose of laxatives. Few environmental changes are to blame,
1. ) Rotation
Yes folks, those who rode it from Rs. 100 a stock to 1500 are taking profit and putting that money to some other sector where they believe market it...
inverted head and shoulder in dr reddys lab, in the rise of nifty, pharma stocks are left behind will drreddy lab cover the back log. likely to go for targets of 2900 to 3000 in around one month.
NSE:DRREDDY
Classic ABCD pattern has formed in daily chart of DRREDDY. The C point has formed at 0.62 and CD has formed at 1.56 of "BC". Bullish Entry can be made at 2990 for a target of 3250. SL 2960.
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NSE:DRREDDY
Bullish Classic ABCD pattern has formed in daily chart of DRREDDY. The C point has formed at 0.62 and CD has formed at 1.56 of BC. Entry can be made at 2990 for a target of 3200. SL 2960.
Fundamentally a STRONG company and it had recent news for its upmove
Dr Reddy's Laboratories has expanded strategic collaboration with Amgen, one of the world's leading independent biotechnology companies, to market and distribute three of Amgen's medicines in India in the therapy areas of oncology and osteoporosis. Under the terms of the collaboration, the...
There was a gap down observed on daily chart which is been not filled up for a long time. Now the price action breaks out from a rectangular consolidation and shall reach out to 3280 levels in order to fill up that GAP.
Target: 3280
Stoploss: 3070
India's one of the biggest drug maker is going to release quarterly results soon and its stock is already feeling the jitters. Analysts and news papers will annotate the appropriate headline but someone who is aware about the technicals will of course be taking profit at this levels. A solid up trend from the beginning of 2009 is still in effect but it is...
