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Stort Term Outlook for Ranbaxy Stock: Buy or Short Sell Today

By Bhaveek Patel Leave a Comment

Ranbaxy Laboratories Ltd. is a leader in pharma sector in India as well as in US, UK and European markets. The company has a long list of its patents. Ranbaxy was acquired by a Japanese pharmaceutical company Daichi in 2008 and then company’s performance has gone through many obstacles. Ranbaxy was listed on NSE on 28 June in year 1995, and the stock has nicely appreciated in the last 16 years. Looking at the daily chart of the stock we see the stock is continuing its appreciation and traders are bullish for the longer term as we see 100 EMA is below the price action, suggest us the long term trend to be bullish. Also 20 EMA is below the 50 EMA confirms us of the near term consolidation. For high risk traders we recommend to enter only long positions above the 490 level for the short term targets as 550 and 620 levels. Also for the long term view investors can keep adding their positions at every dips and target for long term must be 623 and then 709. Short term traders need to place their stop loss near 460 levels and long term investors must keep 420 level as their stop loss.

Ranbaxy’s Fundamentals:

Fundamentally the stock looks weak, but improving the sales in the European region can be a good trigger for the growth of the company in the next 2 to 4 years. Overall scenario look in favor of long position in RANBAXY stock.
Ranbaxy Logo

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Category: Short Term Stocks Tags: Buy or Sell/ Ranbaxy/ Short Term Trading

About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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