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Pharma hitting new highs everyday

Pharma hitting new highs everyday: Ashwani Gujral

Pharma hitting new highs everyday: Ashwani Gujral Pharma hitting new highs everyday: Ashwani Gujral The overall picture is a competition in a head and shoulders pattern where the left shoulder was formed around 5800. If you draw the six-monthly chart and if this is the right shoulder, then a rally up to 5800 is possible. If global markets by that time turnaround, we could join the global markets on the downside but I do not think that we could go substantially beyond 5800. The interesting part is that CNX Pharma continues to hit new highs. LupinBSE 0.11 %,Sun PharmaBSE 0.81 %, all hitting new highs everyday. There is something going on in the pharma space. Anybody who wants to be long regardless of what happens in Cyprus, in the US etc. should be looking at that index or that sector. It is very tough to participate on Bank Nifty. Tomorrow you get a bad inflation number and you lose 1000 points. There is something here for the investors because these are stocks which have continued to move up all the time whether the market is up or down but overall, this is a pullback rally and one which is likely to end around 5800. May be one more burst you will see around the 3rd May policy and from there, we could see the turn.

 
     
 
   
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