Last time we gave Recomedation on Generic Pharmasec Ltd It did target on Rs 14 on 26 Oct,Based on Time cycle Generic Pharmasec Looks Ripe for another upmove till 14 in 2 weeks time frame.
GENPHARMA has been quiet active from last few days as stock has seen a surge in volumes in last few trading sessions weeks and price has been rising.As seen in below charts Stock has seen reduction in volatlity and has formed a Pennant continuation pattern suggesting another good move can be seen on upside.
We have seen an increase in Volumes in last 3 trading session. Technically Stocks Looks Ripe for a Breakout above 12.5-12.6 Range for a short term rally till 14/14.2 odd levels which gives us upside of 10-15%.
Fundamnetally Stock has a Tie up with Abbot India Ltd. (Click on the Link to Read More about the update) Abbott Laboratories is an American worldwide health carecompany with ,revenues over $30.5 billion.
Also with COVID Vaccine distribution Stock will play a vital role in distribution which can add to both topline and bottomline.
Short Term Traders can go long in range of 12.5-12.6 with SL of 11.5 on Closing basis for a target of 13.1/13.6/14 in 2 Weeks Time Frame
The above Stocks is not investment pick as I am not expert in Fundamental analysis but a short term pick for gain of 8-10 % purely based on Technical Analysis.Please also do your own study before trading this stock and trade in small quantity also be strict with Stoploss.