Sunpharma has been in a continues uprise from last 20 years on-wards so we would look at the chart to see what technicals are indicating. This is also same as in case of others the volumes are heavy at top it fell on heavy volumes then the volumes were heavy but these volumes failed to take it above the all time high indicating that some informed investors might have got out of the stock and we might see it finding difficult to make a new high.Notice also the trend line where the stock has been finding support for last one decade and now again it is at the trend line whether it takes support at this level or not only time would tell. but the heavy volumes are indicating that it might break the same. Sun-pharma has not made a lower low for last 20 years and if now it moves below 800 it would form lower low which would indicate that the top might have been in place as of now. it would also break the 10 year trend line. so wait patiently as we might see a down trend in stock after multi decade up move.

Mahiidar M

Enjoying Life

Trend is Friend.

for last five years Pharma stocks have been the darling of the market. So now we see what technically what it is indicating. Technically the the index appears to be indicating a toppish signal. if you notice the first fall it has been on very heavy volumes indicating the some major investors are not interested  and post that, the rise has been on good heavy volumes by till now it was not able to make a new high which is an indication that pharma index might have topped out and we might be reversing in coming weeks or months. Whether long term top has been made we have to see the individual stocks, it on seeing the technicals indicating the the up move might have been over. Pharma index seems to be in process of forming a topping head and shoulder pattern it appears to be in forming the final right candle and any breach of 12000 would confirm the same giving a target of 9000 so pharma up move seems to be waning.

Mahiidar M
Enjoying Life
Trend is Friend.

Darling of the investors over period of last two years Maruti Udyog limited. It has risen from around Rs.1000 levels to around Rs.4700 during last two to three years. The techncials are indicating that the up move might be maturing and it might turn down in coming weeks it has till a new high is made we can expect that the stock is headed down wards. It made a high of 4700 in august 2015 and then fell 4100 levels and then has risen again to 4700 levels, here the perfect technical top formation is indicated by volumes. the rise from 4100 to 4700 has highest volumes( highest in rise from 1000 to 4700) and this highest volumes have failed to take it upwards or a new high and sustain there which is a classical double top. The highest volumes suggest that the informed investors have got out of the stock in the last rise and they have now much interest in the stock. So now till 4700 is successfully taken out and sustained above it we can expect maruti might have topped out and we can expect it to to move towards 3800 and then 3200 levels will it go there? if 4700 is not taken out we can expect it to atleast correct it to 3800 but the best would be 3200. 

Mahiidar M
Enjoying Life
Trend is Friend.

Nifty seems to be heading lower considering the technicals.Nifty is below 200 day EMA and also SMA which is a bearish indication. This is the longest time after 2011 where nifty is below 200 EMA/SMA. It may also be seen that 200 EMA(black MA) is below 200 SMA(red MA) which is also a barish signal. nifty moved below 200 EMA by gap down in august and then made a low of 7550 and then reversed again to move above 200 EMA and found resistance at SMA and then moved down wards and that too today with gap down below 200 EMA which is also a bearish signal. All these are pointing technically that bulls are not going to have a good days in comming weeks or months. So till 200 day EMA/SMA are not taken out we can easily see nifty making new low.
Mahiidar M
Enjoying Life
Trend is Friend.