Monday, May 2, 2016

Bottom-Fish this stock for 50% gains in couple of months

Its a small cap pharma company having its manufacturing unit at Tarapore near Mumbai. The parent company is in diversified businesses like logistics, exports, chemical and healthcare.

Promoters holding in the company is more than 70% and company has no debts. This stock is current trading at P/E of 20. Broadly fundamentals are in place.

I am talking about Anuh Pharma (NSE- ANUHPHR).

Lets have a look at the Technicals of this stock.

Stock is trading near 206 levels. It had broken out of long trading range in the month of June 2014. The level when it broke was around 155. The stock multiplied 4 times after it broke out to register high of 618 in July 2015. Most of us missed this opportunity.

The stock has been consistently falling since then to register a low of 159 in April 2016. This is exactly the same price of  breakout level which I mentioned above.

Resistance becomes support if it is broken. The resistance (range) was broken in June 2014 is now expected to act as strong support. You can see the stock moved up with good volumes in last 2 days and now trading near 206 ( as on 29 Apr 2016).

Consider buying this stock at current level and on dips till 160 levels.

Stoploss: 150
Target 1: 300
Target 2: 500    

Expect stock to give 50% returns in next 203 months. The stock can double in a year.

Check the chart below:

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