Initiation range: Rs 820-825
We're seeing noticeable traction in pharma counters and Cipla
is among the top performers. It has recently witnessed a breakout from a consolidation range of 725-800 zone after spending nearly 4 months. The recent dip in the last two sessions should be considered as a buying opportunity.
Initiation range: Rs 500-505
After retesting its record high in November, IGL has been consolidating in a narrow range while holding strongly above the support zone of short term moving averages. It has formed a continuation pattern on the daily chart and trading on the verge of a breakout from the same. Traders shouldn’t miss this chance and accumulate in the mentioned zone.
Initiation range: Rs 2,435-2,450
has been witnessing profit taking for the last one month, after a strong surge from 2200 to 2690+ zone. It has formed a base above the support zone of the short-term moving average(50 EMA) on the daily chart and likely to see a gradual recovery from hereon. We believe it’s a healthy correction and traders should use this phase to create fresh long positions in the mentioned zone.