Aventis Pharma Limited (NSE: AVENTIS)

Mid-tem Market Sentiment – Bullish

From technical view point, Aventis pharma looks bullish in mid-term time period. The reasons are

• After hitting low at Rs 700, price has found support near this area and trading above Rs 700 from past 4 weeks
• RSI (14) is 58 which indicates a strong trend
• Price is making higher highs and higher lows which indicates a higher trend
• Up volume is higher than down volume
• Upward pitch fork has formed and price is testing lower median line
• Stock is trading above EMA (20) and in last session, it has closed just below EMA (100)

If this stock won’t go much further down, then this could be a good time to buy now with stop-loss just below Rs 750 with target one at Rs 810 and target two at Rs 850