GSK Pharma peaked at an intra-week high of Rs. 1148.95 during the week ended 11th January 2008, entered a corrective phase, struggled a bit but couldn’t manage to overcome the 1149 level, declined to post an intra-week low of Rs. 800.00 during the week ended 25th January 2008. The scrip staged a smart recovery from here, peaked at an intra-week high of P.s. 1205.00 during the week ended 29th February 2008 only to enter a corrective phase. GSK Pharma couldn’t sustain these levels for long, declined to post an intra-week low of Rs. 930.00 during the week ended 31st October 2008. The scrip staged a superb recovery from here and rallied to peak at an intra-week high of P.s. 1619.65 during the week ended 01st October 2009 and entered a cortective phase. Currently GSK Pharma has reversed direction after receiving significant support from the 1500 level and with the mechanical indicators supporting the move; a weekly close above the 1671 level would mean the possibility of a frirther upside from here.
Trading Pointers:
Indicators : MACIl-Buy RM[Buy Stochastic-Buy ROIl-Buy RSI-Buy
Support: 1638, 1558 Resistance:1700, 1800
BSE Code —500660 55 Week EMA: 1328.77
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