Trading Idea and Technical Analysis of Generic Pharmasec Ltd

By | April 11, 2021 3:07 pm

Last time we gave Recomedation on Generic Pharmasec Ltd Trade did not worked out and Hit our Stoploss.

Generic Pharmasec Looks Intresting again based on Price and Time Study  after seeing a significant correction 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 99 Week Cycle  at Rs 7.31 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 and price near channel breakout and stock has also made a Outside Bar Pattern on Daily chart.  Technically Stocks Looks Ripe for a Breakout above 8.5-8.6 Range for a short term rally till 9.5 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 8.5-8.6 with SL of 7.4 on Closing basis for a target of 9.5 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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