SUNPHARMA - Sun Pharmaceuticals Industries Limited
Levels -
Buy - Any dip the CMP or it breaks above 628
T1 - 645
T2 - 700
SL - 610
The undertone of the Pharma sector is bullish amid the second wave of COVID-19 hitting India. Sun Pharmaceuticals has the largest market capitalization and is currently trading at half the price of its all-time high which was close to 1200. The stock has seen a major correction from 1200 levels since FY-15 and now might have resumed a pullback.
Current scenario -
The stock has started trading above all its important exponential moving averages in 5-6 sessions. However the stock has a strong supply zone at the levels of 625-628, so once the stock breaks this level, an upside move up to the levels of 650 followed by 700 looks achievable. A key thing to note here that the stock is trading above all its moving averages and have
NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
Buy - Any dip the CMP or it breaks above 628
T1 - 645
T2 - 700
SL - 610
The undertone of the Pharma sector is bullish amid the second wave of COVID-19 hitting India. Sun Pharmaceuticals has the largest market capitalization and is currently trading at half the price of its all-time high which was close to 1200. The stock has seen a major correction from 1200 levels since FY-15 and now might have resumed a pullback.
Current scenario -
The stock has started trading above all its important exponential moving averages in 5-6 sessions. However the stock has a strong supply zone at the levels of 625-628, so once the stock breaks this level, an upside move up to the levels of 650 followed by 700 looks achievable. A key thing to note here that the stock is trading above all its moving averages and have
NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
Trade active:
T1 has been achieved. T2 is active and is for the short/mid-term. Stoploss can be trailed to 620.