Ranbaxy seems to be peaking out ... While it is hovering currently above Rs 400 level, we may expect that a break below 400/- could mean a longer down move for the stock.
On the daily charts, it is creating a H&S pattern and the pull back is currently in progress. . .
(I urge my workshop participants to compute the likely targets of the down move , if the Rs 400 level is broken!!)
Specific stocks are getting ripe for a directional move .. Watch out!
Happy Trading !
CA Rajiv D Khatlawala
www.investogyan.com
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