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Weekly Pick: Buy Sun Pharma between CMP and Rs860

HDFC Sec | 10 Nov, 2014  | Follow Author | Add to my Favourites 
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Technical Stock Pick: Sun Pharma


- The stock is showing positive bias for the short term.

- Bullish breakout has been witnessed with strong positive candle; this indicates that the stock is in new bullish leg.

- Price has taken out the earlier swing high of 878 and formed a higher top and earlier witnessed corrections are higher bottoms which is bullish continuation sign.

- Last fall was arrested at median line and price has reversed from the low of 748.

- Overall now price is heading towards the upper channel line which is placed around 950 – 970 levels.

HDFC Securities recommends investors to buy Sun Pharma between CMP and Rs860 for price targets of Rs950-970 and with a stop loss placed at Rs835 in 7-30 days.

  Read full report Click here to read the full report

542.15 +17.40
541.45 +15.70
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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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