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Stock
Dishman Pharma
341.60
Recommended Action
Target
Rs.405
SL*
Rs.302
Time Horizon
1-2 Months
Current Observation:
Attached weekly timeframe chart (week is not over) of Dishman Pharmaceuticals Ltd is indicating a sideways
consolidation movement in the last one month.
Currently, the stock price is making attempt to break above the upper region of the consolidation around Rs.340
levels. An upside breakout of this pattern could have a sharp positive impact on the stock price for near term.
Weekly Bollinger band is in place and the stock price is moving up, after taking support of mid Bollinger band. As per
the theory of Bollinger band, the upmove from here could reach the upper trajectory of upper band in coming
weeks/months (which is currently placed around Rs.420 levels).
Weekly 14 period RSI is now turning above the key upper levels of 60. Further upmove of weekly RSI above 60
levels could mean a strong upside momentum for the stock price ahead.
Overall positive chart and momentum pattern in Dishman Pharmaceutical Ltd is suggesting a buy trade set up for
near term.
RETAIL RESEARCH
Note:
* Place stoploss as per daily closing basis.
Recommended to stagger buying/selling rather than entering entirely at CMP.
If first target achieved, then revise stoploss to buying/selling price.
RETAIL RESEARCH
This report has been prepared by the Retail Research team of HDFC Securities Ltd. The views, opinions, estimates, ratings, target price, entry prices and/or
other parameters mentioned in this document may or may not match or may be contrary with those of the other Research teams (Institutional, PCG) of HDFC
Securities Ltd.
RETAIL RESEARCH