The Pharma sector has been in a strong downtrend after the high of Apr'15 and has been falling in a channel. The first attempt to break out was in Sep'18 but failed. Another attempt is in progress now after the stock retested 61.8% of the entire rally from Mar'09 to Apr'15. 1/n
Will we see a breakout this time? No one knows, but the probability to breakout is clearly on the higher side after looking at last month's candle & the reversal level at 61.8% fib. What can one do? Start a SIP in one of the pharma funds & allocate a % depending on ur risk. 2/n
Cipla retraced 50% of the entire rally and reversed from trendline and horizontal support levels too. Awaiting breakout #CIPLA #trendlines #investing #fibonacci
Marksans Pharma about to give breakout after retesting strong demand zone #Marksans #trendlines #investing #ROC 4/n
Alpa labs breakout from trendline & horizontal resistance zone - time to run higher #Alpa #trendlines #investing #ROC
Indoco Remedies - awaiting breakout from the falling channel #Indoco #trendlines #investing #ROC 6/n
Mangalam drugs - should head higher to the trendlines resistance after reversing from the multiyear demand zone #Mangalam #trendlines #investing #ROC
Nectar life sciences - pretty straight forward chart and demand-supply zones #Neclife #trendlines #investing #ROC
Many of these stocks are either small-cap or mid-cap and can give multi-bagger returns in the future. Before investing assess your risk and position size accordingly. #Nifty #NiftyPharma #investing #trendlines
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