The Pharma index
CNXPHARMA
seems to have resumed its uptrend today after consolidating for about a month.
After a pullback from 636 to 566 levels, looks like Aurobindo Pharma
AUROPHARMA
is all set to start the next cycle of uptrend.
I can see that the stock has reversed after retracing 61.8% of the previous upmove and formed a Bullish Engulfing candle today.
Good opportunity to go long here for a target of 610 and above with a stop loss of 565.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
CNXPHARMA
seems to have resumed its uptrend today after consolidating for about a month. After a pullback from 636 to 566 levels, looks like Aurobindo Pharma
AUROPHARMA
is all set to start the next cycle of uptrend. I can see that the stock has reversed after retracing 61.8% of the previous upmove and formed a Bullish Engulfing candle today.
Good opportunity to go long here for a target of 610 and above with a stop loss of 565.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.