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Posted by Vishnu Posted on: 22-Dec-2014 | It is highly unlikely that it will reach 1762 before expiry (the recent peak was of 1850 on 31st Oct) even though it is now improving but still the MACD is negative on a daily view. As situation may improve you can consider a roll-over but Fundamental analysis is that US is quite tough against many Indian Pharma companies and we may hear few tough news in the near future. Vishnu Vandana P |
Posted by Vishnu Posted on: 22-Dec-2014 | From the daily perspective (not an intraday), As per the COG levels even though it is above pivot 1636.04, and adaptive support point 1704,with positive RSI, stochastic still the MACD is negative. You may consider a SL of 1624.25. The near term target is around 1759.55 Vishnu Vandana P |
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