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Ranbaxy Going Down in Slow & Steady Manner

Ranbaxy chart

Ranbaxy chart shows that stock is getting a good support at the level of 500 and is bouncing 2-3% from the level of 500 to upside.Stock will open the downward channel if it remains below 500 on weekly basis.

This is a slow and steady stock where 500 and 516 levels are key levels for upswing. Once the level of 490 is broken than stock will go down to the levels of 450.

This post was first published at Indian-Share-Tips.Com on 16 Dec 2012 and is a perspective on trading in Ranbaxy with short to medium term.

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