Trading Ideas and Technical Analysis of Generic Pharmasec Ltd

Last time we gave Recomedation on Generic Pharmasec Ltd It did 1 target of Rs 13.6.

Generic Pharmasec has seen a significant correction as the small caps space corrected making it lucrative both from fundamental and technical point.

Generic Pharmasec Ltd BSE Ticker GENPHARMA | 531592

As per Weekly Gann TIme Cycle Stock has made a bottom on the 90 Week Cycle  at Rs 9.2 as shown  in below chart and trading just above it giving up a Very Good Risk to Reward Ratio for a short term trade.

We have seen an increase in Volumes in last 4 trading session and forming as Ascending Triangle pattern.  Technically Stocks Looks Ripe for a Breakout above 9.5-9.6 Range for a short term rally till 11.5-12 odd levels which gives us upside of 10-20%.

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 9.5-9.6 with SL of 8.8 on Closing basis for a target of 10.5-11.1-11.6-12 in 2-3 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.

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