After an explosive move from ~ 8000 to ~ 9500 levels, Pharma index
CNXPHARMA
went into consolidation.
I think this was a correction within a bigger rally and we have more upside on cards.
I can see that Nifty Pharma has taken support at 50% retracement of the previous rally and formed a large Bullish candle.
Many Pharma stocks like Aurobindo Pharma, Sun Pharma and Glenmark are showing signs of reversal.
Good opportunity to go long on Pharma stocks with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
CNXPHARMA
went into consolidation. I think this was a correction within a bigger rally and we have more upside on cards.
I can see that Nifty Pharma has taken support at 50% retracement of the previous rally and formed a large Bullish candle.
Many Pharma stocks like Aurobindo Pharma, Sun Pharma and Glenmark are showing signs of reversal.
Good opportunity to go long on Pharma stocks with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.