Target Price: Rs 157
Stop Loss: Rs 147
Stop Loss: Rs 147
On a daily time frame, Piramal Pharma Ltd has given a breakout of the Pennant Pattern on the upside forming a continuation pattern. In the current formation, the security has formed a bullish price action indicating buyers have been keen to buy the securities and are expecting the stock to move higher.
On the EMA front, the price is trading above three EMA’s (9,21,34) price trading above all the three EMA which is indicating bullishness in the script. Relative Strength Index (RSI) is heading towards the overbought area, which shows a positive trend in the script.
(Virat Jagad, Technical Analyst, Bonanza Portfolio)
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