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Home STOCKS Wockhardt Pharma sees pattern breakout: CK Narayan

Wockhardt Pharma sees pattern breakout: CK Narayan

Pharma stocks are on the move and all those from the compact and midcap area are viewed to be in excellent demand. Between the organizations that are well-liked with both the investing as properly as the investing set, one this kind of stock is Wockhardt Pharma. It is now witnessed generating a contemporary transfer higher on the charts.
“We have a pattern that appears like a continuation invested head and shoulder pattern which is staging a breakout greater at the present amounts of Rs 290. The concentrate on from this pattern is put all over the Rs 320 area, leaving a 10% place to the topside from latest levels,” CK Narayan, Specialized Analyst and Contributor with ET NOW.
The charges are observed hugging the higher Bollinger Band, a very good signal of ongoing momentum, Narayan mentioned, adding that RSI readings as well are positive and a buy is encouraged with a prevent at Rs 282.
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