Thursday, July 9, 2015

A Pharma Stock worth a Buy for Short Term.....

I have been tracking PLETHICO PHARMA for some time now.

Check the chart below :

The stock has a tendency to make up moves each time it breaks above the falling trendline.

And this time too.....(as in the past two occurrences) it can be very much possible.

One more plus this time is - The stock made a double bottom instead of lower bottom as earlier.

This should be a signal to correction complete and sideways or uptrend beginning.

To Summarize :

 PLETHICO PHARMA- B@ 29-30, keeping SL/26 on closing basis.

- Trendline violation leads to violent movements
- Previous two occurrence it has proved as per chart.
- First Double Bottom confirms the limited downside.

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