Cnx pharma weekly report 06 07-2015 to 10-07-2015

DATE: 04/07/2015

WEEKLY OUTLOOK FOR CNX PHARMA AND

ITS MAIN COMPONENTS

(06/07/2015 - 10/07/2015)

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Jagrut Shah Darpan Shah Sr. Research Analyst Head - Research EquityPandit Financial Services Pvt. Ltd. 305, Trinity Business Centre, L. P. Savani Road, Surat - 395009 Gujarat

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CNX PHARMA index closed the week on positive note gaining more than 3.0%. The index has closed around the strong resistance zone of 12250 where 100 Daily SMA is ly-ing. Also the index has filled the gap which was created on 01/06/2015 on gap down open-ing. The index has been forming the Shooting Star pattern on Daily chart in an uptrend. Generally this pattern indicates the trend reversal. The index has to close above the levels of 12300 to negate this pattern. If index manages to close above the levels of 12300 we may see index moving towards the levels of 12750 where trend-line resistance are positioned. Support for the index lies in the zone of 11800 to 12000 where short term moving averages are positioned. Broad range for the index is seen from 11800 on downside to 12500 on upside.

CNX PHARMA


SUN PHARMA closed the week on positive note gaining around 2%. As seen from the chart the stock is facing stiff resistance in the zone of 880 to 885 since last two weeks. If the stock manages to close above the levels of 885 we may see stock moving towards the levels of 900 where 200 Daily SMA and upward sloping trend-line is positioned. The stock is taking support around the levels of 860 where short term moving averages and trend-line are positioned. If the stock breaks below the levels of 860 we can see stock moving to the levels of 820 to 840. Broad range for the stock in the coming week can be 830 - 850 on lower side to 890 - 900 on upper side.

SUN PHARMA


Lupin closed the week on positive note gaining around 4%. As we have suggested last week that the stock has formed a Hanging Man pattern on the weekly charts in the uptrend near the resistance zone of 1850. The stock has to close above the levels of 1850 on weekly basis to negate this pattern. As seen from the chart as soon as the stock moves above the levels of 1850 the stock zooms to the levels of 1900. The stock is facing stiff resistance around the zone of 1900 where upward moving trend-line are positioned. If the stock manages to close above the levels of 1920 we may see huge spurt in the stock which may take the stock to the levels of 2000. Support for the stock lies in the range of 1850 to 1870 where short term moving averages are lying. Broad range for the stock is seen from 1850 - 1870 on downside to 1920 - 1950 on upside.

LUPIN


Dr Reddy closed the week on positive note gaining more than 2%. As we have suggested last week that if the stock manages to cross above the levels of 3560 we may see stock moving towards the levels of 3650 and this week the stock hit the high of 3610 levels. If the stock manages to close above the levels of 3610 we may see stock moving towards the levels of 3700 where upward sloping trend-line is positioned. Support for the stock lies in the zone of 3500 where short term moving averages are posi-tioned. Broad range for the stock is seen from 3500 - 3550 on downside to 3650 - 3700 on upside.

DR . REDDY


CIPLA closed the week on positive note gaining more than 3%. As we have suggested last week that if the stock manages to close above the levels of 635 we may see stock moving towards the levels of 650 where 200 Daily SMA and downward slop-ing trend-line are positioned. As seen from the daily chart the stock has managed to hit the high of 638 but could not able to close above the levels of 635 since last 3 days. If the stock manages to close above the levels of 635 where 50 Daily EMA is positioned we may see stock moving towards the levels of 650 where 200 Daily SMA is lying. Support for the stock lies in the zone of 620 where short term moving averages are posi-tioned. Broad range for the stock is seen in the range of 600 - 615 on downside to 640 - 660 on up-side.

CIPLA


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Cnx pharma weekly report 06 07-2015 to 10-07-2015

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