Weekly Outlook for CNX Pharma and its main components (July 13,2015 to July 17,2015)

DATE: 10/07/2015

WEEKLY OUTLOOK FOR CNX PHARMA AND

ITS MAIN COMPONENTS

(13/07/2015 - 17/07/2015)

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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 2.0%. During the week the index managed to close above the strong resistance zone of 12300 where 100 Daily SMA was positioned. As we have suggested that the index has formed the Shooting Star pattern on Daily chart in an uptrend on 03/07/2015 and the index has to close above the levels 12350 to negate this pattern and index managed to close above the levels of 12350 during the week. 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. As seen from the charts the index can face resistance around the zone of 12750 were trend-line is positioned. Support for the index lies in the zone of 12100 to 12300 where short term moving averages and 100 Daily SMA are positioned. Broad range for the index is seen from 12100 on downside to 12800 on upside.

CNX PHARMA


SUN PHARMA closed the week on positive note gaining around 3.5%. As we have mentioned last week that if the stock manages to close above the levels of 885 we may see stock moving towards the levels of 900 to 920 where 200 Daily SMA and upward sloping trend-line is positioned. On 10/07/2015 the stock manages to move above the resistance zone of 880 to 890 and the stock also close above the 200 Daily SMA positioned around the levels of 900. The stock is approaching towards the upward sloping trend-line resistance positioned around the levels of 920. Above the levels of 920 the stock can move to the levels of 960 where 100 Daily SMA is lying. Support for the stock is seen in the zone of 850 to 870 where short term moving averages and trend-line support are positioned. Broad range for the stock in the coming week can be 850 - 870 on lower side to 920 - 940 on upper side.

SUN PHARMA


Lupin closed the week on negative note losing around 1.5%. As we have mentioned last week that 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. This week also the stock could not manage to close above the levels of 1920 and the stock sold off to the levels of 1850. Support for the stock lies in the range of 1840 to 1860 where short term moving averages are lying. Resistance for the stock lies in the range of 1930 to 1950 where upward moving trend-line are positioned. Broad range for the stock is seen from 1850 - 1870 on downside to 1930 - 1950 on upside.

LUPIN


Dr Reddy closed the week on positive note gaining more than 4.5%. As we have mentioned last week that if the stock manages to close above the levels of 3610 we may see stock moving towards the levels of 3700 and the stock hit the high of 3770 dur-ing the week. The stock can face minor resistance around the levels of 3810 where earlier high is posi-tioned. Support for the stock lies in the zone of 3650 to 3700 where short term moving averages are positioned. Broad range for the stock is seen from 3670 - 3700 on downside to 3800 - 3850 on upside.

DR . REDDY


CIPLA closed the week on positive note gaining around 2.5%. As we have mentioned last week 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. The stock hit the high of 658.65 during the week. If the stock manages to close above the levels of 650 we may see stock moving towards the levels of 665 where 100 Daily SMA is lying. Support for the stock lies in the zone of 620 to 640 where short term moving averages are positioned. Broad range for the stock is seen in the range of 610 - 630 on downside to 660 - 680 on up-side.

CIPLA


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Weekly Outlook for CNX Pharma and its main components (July 13,2015 to July 17,2015)

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Transcript of Weekly Outlook for CNX Pharma and its main components (July 13,2015 to July 17,2015)