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You are here : IndiaNotes >> Research & Analysis >> Companies >> Sun Pharmaceutical Industries Ltd. >> Research

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.


Recommendation:
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.


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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 IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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