Pharma index witness mayhem today due to bad news from US with Dr. Reddy plunging 10%.
Cipla
CIPLA
seems to be the only stock which was hammered relatively less today.
However, I can see that the stock is struggling around 78.6% of previous downfall for many days and looks close to a breakdown.
Looks like it is heading for a first target around 600 levels.
Good opportunity to short here with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Cipla
CIPLA
seems to be the only stock which was hammered relatively less today. However, I can see that the stock is struggling around 78.6% of previous downfall for many days and looks close to a breakdown.
Looks like it is heading for a first target around 600 levels.
Good opportunity to short here with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.