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The outlook for Mankind Pharma is bullish. The stock has begun the week on a strong note by making a bullish breakout above the resistance level of ₹2,575. That marks the end of the consolidation that was in place since the last week of August this year. It also indicates that a new leg of the upmove has begun. The level of ₹2,575 will now act as a good resistance-turned-support and limit the downside. Mankind Pharma’s share price can rise to ₹2,750 and ₹2,850 in the coming weeks. Traders can go long now at ₹2,651. Accumulate on dips at ₹2,610. Keep the stop-loss at ₹2,540. Trail the stop-loss up to ₹2,680 as soon as the stock moves up to ₹2,730. Move the stop-loss further up to ₹2,790 when the price touches ₹2,810. Exit the long positions at ₹2,830.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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