Syncom Formulations (India) Ltd Faces Market Challenges, Experts Give 'Buy' Call

Syncom Formulations (India) Ltd, a smallcap pharmaceutical company, has been making headlines in the stock market recently. On October 7th, the company's stock saw a decline of -7.48%, underperforming the sector by -6.54%. This has raised concerns among investors, but experts at MarketsMOJO have given a 'Buy' call for the stock. The stock has been on a downward trend for the past three days, with a consecutive fall of -13.92% during this period. It opened with a gap down of -2.01% today and touched an intraday low of Rs 19.13 (-8.29%). The stock has also shown high volatility, with an intraday volatility of 5.95%. Despite these recent fluctuations, Syncom Formulations (India) Ltd's moving averages are still higher than its 100-day and 200-day moving averages. However, it is currently lower than its 5-day, 20-day, and 50-day moving averages. In comparison to the Sensex performance, Syncom Formulations (India) Ltd's 1-day performance is -6.18% while the Sensex has only seen a decline of -0.78%. Similarly, the company's 1-month performance is -15.43% compared to the Sensex's -0.16%. Overall, Syncom Formulations (India) Ltd's stock has been facing some challenges in the market, but experts believe that it has the potential to bounce back. With a 'Buy' call from MarketsMOJO and its moving averages still higher than its long-term averages, the company's stock may be a good investment opportunity for those looking to enter the pharmaceutical industry.