3 pharma stocks Meghana Malkan is bullish on for near term
«So, broadly, unless we have some trigger taking the market into a different zone, broadly, I see Nifty moving in this range and so is with Bank Nifty. The momentum says, right now, we are broadly into the sideways zone,» says Meghana Malkan, malkansview.com.
What are your thoughts on the market? Let us talk about benchmarks first, Nifty, Bank Nifty, the levels you have on your radar and then a word on the broader markets as well.
Meghana Malkan: Broadly, let us talk about Nifty first. So, key technical parameters if we look at, RSI, look at candle patterns, broadly price and momentum play, seems like we are in a consolidation phase. So, when I see the Nifty charts, 24,550 to 24,600 seems like a broader support where we could move on the higher side, the range of the consolidation and on the lower side, I think 23,900 is where we could be capped at the downside.
So, broadly, unless we have some trigger taking the market into a different zone, broadly, I see Nifty moving in this range and so is with Bank Nifty. The momentum says, right now, we are broadly into the sideways zone.
Right now, are you looking at any specific sector that one should watch out for? How are you viewing or looking at in the market right now?
Meghana Malkan: So, broadly, what we do is, when the market is sluggish, when the market is sideways, I think the only two sectors that usually perform in this kind of market is IT and pharma. So, I am broadly looking at pharma stocks. I am liking Lupin. The way the stock is poised, it has been giving
