BUY CADILAHC ABOVE 381 TGT 390/420 SL 360
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Market summary 24 MAY 2018: BSE MidCap and
SmallCap gained 1.55% and 1.17%, respectively. All the sectoral indices on BSE, except
consumer durables, ended in gains led by oil and gas (3.05%), metal (2.20%),
utilities (1.76%) and auto (1.70%). BEML Ltd shares
were up 1.70% to Rs949. Castrol India
Ltd shares traded 5.83% higher to Rs172. Ceat Ltd shares
rose 3.85% to Rs1350 IFCI Ltd gained
as much as 9.79% to Rs18. Jain Irrigation
Systems Ltd gained as much as 6.33% to Rs104.ONGC, Tata Steel,
IndusInd Bank and Yes Bank
were among the top gainers, whereas Coal India, ITC, SBI and TCS were among the
major losers.
Cadila Healthcare Limited is
a pharmaceutical company. Primary trend of the CADILAHC is bearish and After
showing correction from the higher level 558, now CADILAHC is trading in short term recovery
phase, it is likely to continue the upside move in near term with the crossing
the resistance level of 390 at 55 EMA. as the stock is managing to sustain
above the 55 EMA. It is likely to
continue the positive movement with the breakout of the resistance levels of 400
AND 420 at 200 EMA. 200 days moving averages seen as a strong RESISTANCE level
at 420 with the RSI of 49. After breakout, One may get the targets of 390,400,430
in the stock with the stop loss of 360.
DAILY CHART FOR CADILAHC
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