How To Trade Pharma Stocks : Aurobindo Pharma, Sun Pharma, Strides, Cipla and Glenmark

 

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SUN PHARMA : Stock is looking good on charts with bullish engulfing candle pattern formed on charts on Monday. Stock has taken trendline support from 50dMA.Stock can now test 645 once it trades and sustains above its 20dMA @600, Above 644 targets will be 680 to 740 and in long run we can see 4 digits soon.Below 560 targets will be 510.

STRIDES  Pharma : Stock took support from trendline, Stock was in downtrend for last 2 weeks and corrected sharply from 999 to 809. Now stock found some support and can move towards 905-980 to 1084 above 855. Technical indicators are also looking in oversold mode.

Glenmark : Stock is in downtrend but made double bottom near 480 on hourly charts, Add longs for 502-10 to 535 in short term with sl 470.

Aurobindo Pharma :Stock found support from long term trend line, but failed to sustain above 1000 level due to weak market sentiments, Fresh entry for investment purpose should be  taken only if stock trades & sustain above 1025-35, failing which can trigger profit booking with targets of 950-35, above 1035 stock can test 1080-1135 to 1250-1300 level in coming weeks.

Cipla:Stock has minor resistance around 860,above that stock can 935-1000-1075 in coming weeks, however below 810 stock can show sharp decline towards 777-762 to 725.