P&F charts this week

Date: 26th April 2015

Figure 1: CNX Pharma (12210)

Discussed during last week that Pharma sector Relative strength chart is turning down. Expect it to underperform Nifty in coming days.  CNX Pharma has breached important support levels and setup is looking weak.

Figure 2 : Auro Pharma (1289.15)

Double bottom sell after High Pole. Short term H&S formation triggered below 1336. Underperforming Pharma and look very weak. Short with Stop at 1320.

Figure 3: Wock Pharma (1625.30)

Another stock underperforming Pharma. Turned down after serious column consolidation. Stop at 1680.

Figure 4: Dishtv (75.20)

This is another stock that looks good to short. Double bottom sell signal after High Pole that breached important support levels.  Stop at 77.8 on closing basis.

Figure 1: CNX Pharma 0.25% x 3 cl Point & Figure Chart

 



Figure 2: Auro Pharma 0.25% x 3 cl Point & Figure Chart

 

 



Figure 3: Wock Pharma 0.25% x 3 cl Point & Figure Chart

 

Figure 4: Dish tv 0.25% x 3 cl Point & Figure Chart

- Prashant Shah 

 

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