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Ranbaxy Labs

Discussion in 'Technical Analysis' started by shwetagnema, Aug 10, 2012.

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  1. shwetagnema

    shwetagnema Active Member

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    hi shabbir, i would like to know your view on ranbaxy labs. It came up suddenly in apr 2012 and after that, at regular interval, it is showing slight peak. after the results, it is coming down. what do you say, whether this stock should be avoided or should be watched and further up movement is possible?
     
    shwetagnema, Aug 10, 2012
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  2. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Ranbaxy has formed W break out @ 516 but could not sustain at that level, yesterday there was a strong bearish candelstick too.
    Better to avoid the stock.
     
    sanjay_sansanwal, Aug 10, 2012
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  3. shabbir

    shabbir Administrator Staff Member

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    It is forming a zig-zag between 470 and 520 and so you should buy this stock it if bounces yet again from 470 or else avoid it.
     
    shabbir, Aug 10, 2012
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