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ParamjitMahapatro

pharma sector should recover now.

Nifty Pharma Index (NSE:CNXPHARMA)  
ParamjitMahapatro Uppdaterad   
NSE:CNXPHARMA   Nifty Pharma Index
Chart Patterns Trend Analysis Descending Channel support bounce
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chartpattern trendanalysis descendingchannel support bounce
cnx pharma touched the downtrend channel support and reversed. It is giving bounce back, but overall trend is down.
Kommentera:
Another version of channel,
snapshot
Kommentera:
regular bullish divergence seen in daily.
snapshot
Handel aktiv:
closed at 8902.05
Handel aktiv:
moving up as expected 9071.70
Handel aktiv:
till now 9140.
Handel aktiv:
till now 9270.
Kommentera:
In daily, price closed above upper bb on Thursday, and bb is expanding, sign of bullishness.
snapshot
Handel aktiv:
Here is the weekly followup chart
snapshot
Handel aktiv:
bounced from trendline support, it should now move towards the channel resistance.
snapshot
Handel aktiv:
price moving up smartly, after bouncing from trend line support. till now 9477.75.
snapshot
Trade stängt: målet nått:
price finally reached the channel resistance, cheers,
snapshot
Kommentera:
cmp - 8966.30, price cam down from the channel resistance took horizontal support at previous low, then started moving up,
snapshot

looks like long term reversal is in progress.
Kommentera:
cmp - 8445.70, in weekly, horizontal support turned to resistance , also price unable to break 20 SMA. looks bearish
snapshot
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