After substantial losses the Pharma stocks have started
making a quite recovery as evident in the Pharma Index. After the big fall we
saw two quick buy waves (Short covering) and some accumulation. Last week we
saw some real demand coming in these stock.
Sun Pharma has broken out of consolidation. In stocks like Divis Lab and
IPCA we saw some flare up. Biocon , Cipla and Glenpharma have not really broken
out yet and should be on the watch list.
Sun Pharma looks set to move higher and it is worth to look for entry opportunities.
Shall post chart of the Individual stocks separately.
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