BUY SUNPHARMA ABOVE 460 TGT 475/485 SL 440
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Market summary 23 MAY 2018: BSE MidCap stocks decline 0.24% and and SmallCap stock decline 0.47%, respectively. All the sectoral indices on BSE,
except capital goods and consumer durables, traded in downtrend .Metal, oil and
gas, basic materials and energy fell up to 3.93%. SBI, L&T, NTPC and Tata Motors were
top gainers in today's trading session on the other hand Tata Steel, ONGC, Dr. Reddy’s Labs and IndusInd Bank were
among the losers.
Sun Pharmaceutical Industries Limited is a
pharmaceuticals company which offers generics, branded generics, specialty
products, over-the-counter products, anti-retroviral and APIs. Primary
trend of the SUNPHARMA is bearish and After showing correction from the higher level 1182, now SUNPHARMA
is trading in short term recovery phase,
it is likely
to continue the upside move in near term with the crossing of the
resistance level of 460 as the stock is managing to sustain above the level of 440.
It is likely to continue the positive movement with the breakout of the resistance
levels of 460. 22 and 55 and 200 days moving averages seen as resistance
level with the RSI of 33. After breakout, One may get the targets
of 470,480,500 in the stock with the stop loss of 435.
DAILY CHART FOR SUNPHARMA
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