Pharma stocks outlook for the week – 08 to 12.09.2014
( www.rupeedesk.in )
Stocks of frontline
pharmaceutical companies are seen trading positively next week
primarily because of continued
upward momentum and defensive buying on account of
profit booking in broader
markets.
There is a possibility of some
consolidation in the broader markets due to profit booking,
because of which shares of pharma
companies are seen up.
We also expected to continue its
momentum in the sector would drive up
shares across weightage, as there
is no reversal pattern seen in the pharmaceutical space.
We are predicting a
sideways-to-negative movement for shares of Dr Reddy's
Laboratories Ltd. The
Hyderabad-based company could be the underperformer among
the pharmaceutical stocks. The
stock is trading near its resistance right now, and is having some trouble breaking further ahead.