Our portfolio now exposes to Pharma Call. Our Pharma pick which could give us maximum return from current level is Ranabxy. It has seen some poor beatings from the top of 570 in recent times to 370. What was the reason?? 1. Production has stopped in US due to some legal case (dnt knw much in detail) 2. Exchange rate fluctuation had a great effect on companies balance sheet last quarter. That were the reasons for fundamental slow down. Coming to technical last fall was panic correction to previous low but didnt break to making it a clear picture on wave formation as depicted above. Last week momentum towards the upside has given some confirmation that we may now nt see 360-370 again in short time. Now some positive inflows fundamentally is that the case has the outcome in favor of company. Secondly, it has got US FDA nod for generic drug. And Thirdly, there has been change in the management and change has given some clear picture to improve the margins, so investors expect company to perform in long term. So my tgts are 572/697/1166..Stop loss would be 360 on weekly closing basis....
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