Will Ranbaxy Bounce back?

karthikmarar

karthikmarar

Well-Known Member
#1
#1
Today Ranbaxy was the top gainer. The question is ..will the bullishness continue?

Ranbaxy bounced off the lower trend line. So technically speaking the chances are that it will try to move up to the upper trend line. It would mean that it may bounce back to about 380 400. The daily MACD and the Histogram does suggest some bullishness coming back to take it up to these levels. However the timeline could b at leat two months. Any views?

Weekly Chart Enclosed


Regards
 
Last edited:
L

Luckytrader

Member
#3
#3
karthikmarar said:
Today Ranbaxy was the top gainer. The question is ..will the bullishness continue?

Ranbaxy bounced off the lower trend line. So technically speaking the chances are that it will try to move up to the upper trend line. It would mean that it may bounce back to about 380 400. The daily MACD and the Histogram does suggest some bullishness coming back to take it up to these levels. However the timeline could b at leat two months. Any views?

Weekly Chart Enclosed

Regards
Click to expand...
Great view

I will keep a watch on this stock.

Regards,
Luckytrader
 
karthikmarar

karthikmarar

Well-Known Member
#4
#4
karthikmarar said:
...........Ranbaxy bounced off the lower trend line. So technically speaking the chances are that it will try to move up to the upper trend line. It would mean that it may bounce back to about 380 400. The daily MACD and the Histogram does suggest some bullishness coming back to take it up to these levels. However the timeline could b at leat two months. Any views?
Click to expand...

Hmm.. so it did bounce back. Now almost back to the upper end of the channel in less than two months... It will be interesting to watch whether it will break out of the channel or bounce down from the upper trend line and seek the lower trend line of the channel...The stock is rather interestingly poised...

Chart enclosed

Regards

Karthik
 
Last edited:
R

rajesh.sadhanala

Well-Known Member
#5
#5
karthikmarar said:
Hmm.. so it did bounce back. Now almost back to the upper end of the channel in less than two months... It will be interesting to watch whether it will break out of the channel or bounce down from the upper trend line and seek the lower trend line of the channel...The stock is rather interestingly poised...

Chart enclosed

Regards

Karthik
Click to expand...
Nice catch and pretty Interesting. Miss your lessons for sure. But didn't understood how u caught it. Can u please explain it uncle :D

Raj
 
karthikmarar

karthikmarar

Well-Known Member
#6
#6
karthikmarar said:
Hmm.. so it did bounce back. Now almost back to the upper end of the channel in less than two months... It will be interesting to watch whether it will break out of the channel or bounce down from the upper trend line and seek the lower trend line of the channel...The stock is rather interestingly poised...

Chart enclosed

Regards

Karthik
Click to expand...
Sorry to rake up some old stuff. Found this one interesting.. so sharing..

Like expected the stock did bounce back to the upper end of the channel. Unfortunately it was unable to break out of this channel and now trending down. Now the big question is ..Will it drop down to the bottom of the channel....meaning will it drop down to 300 levels...mmm.. quite probably.. it will be intersting to watch..

regards

Karthik
 
Last edited:
A

amitt29

Member
#7
#7
Hi Karthik,below 300 its a buy on dips for me.I wud accumulate.Its a rather good company(even fundamentally)to be languishing at these levels,when no gooders are just perking up like anything.I hate this.:mad:;):):D

Warm Regards
Amit.
 
You must log in or register to reply here.
Thread starter Similar threads Forum Replies Date
S Spike in share volumes a week before Ranbaxy Laboratories,Sun Pharma deal............ Commodities 0
H Sun pharma to buy ranbaxy Options 1
S Sun Pharma, Ranbaxy fall over 3% on recalls Equities 0
M Ranbaxy FUTURE STK OCT31 Equities 0
H ranbaxy upmove? Day Trading 7

Similar threads