Marksans Pharma stock has been in strong uptrend since last 2-3 years. It's natural for stock to take rest for long time after such a move. The rest will prepare the stock to make strong base for future move. Ideally, it means stock making a deep pullback.
Here's Marksans Pharma Daily Chart
As you can see in the chart above - Marksans Pharma stock is at 100 dma. Now short term momentum traders might look at the stock for short term trading move opportunity - a quick bullish move of 10-15%. But investing community - people looking to buy stocks on deep declines might like to see stock coming down to 200 dma
Marksans Pharma looks like a stock in Long term Bull market. The big question: Is the current decline good enough and is stock ready to take off from here or will it offer the opportunity near 200 dma? It all depends how bullish investors are on the stock and how strong the trend is.
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers