A complete bearish cup formation on this pharma stock. The stock now stands on a very crucial point, the support level around (160-185). It may take a turn after the huge fall and consolidate around these levels for sometime. RSI is also below 40.
On a short term period, Bandhan Bank looks to be bearish. One can clearly see a head and shoulder pattern formation on the chart. I would recommend you to go light on this stock.
With auto stocks preparing for a bullish rally after a good correction, TVS MOTOR seems to be on a very sweet spot. The stock is ready to give a good bullish run with the RSI touching the level 40. The small rectangle marked with blue color is a good buy zone.
TIRUMALCHEM looks good on the chart. With a RSI below 40, and a complete cup formation, the stock can reach upto the levels of 238-240 and give good returns in the short run. Also the stock has the potential to fly more in the long run. It could break the resistance of more than three years (around 240), and go above. The financials of the company is too good....
