Cadila HealthCare - Breakout

                                               Weekly Chart

·         Cadila Healthcare has broken out of the 3 – year resistance of 980 – 985 band

·         The RSI has been consistently above 60 on weekly charts from past 2 months and volumes have been on the higher side showing the buying interest in the counter

·         The higher end of the Bollinger Bands have been tested

·         As the medium term strength is seen in the stock. The strategy would be to accumulate the counter in the band of 990 – 1029 (CMP) with stop loss of 945 targets of 1100/1150/1220  

Raju V Angadi

Equity Research Analyst

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Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets