Aug 28, 2017 03:07 PM
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Sun Pharma has been on a downtrend since April 2015.It was trading a high of 1200 Rs and hit a low of 433 in August.
The stock has gained 11.6 percent after the big fall.The daily volumes have increased and are showing signs of recovery.The weekly indicators however continue to indicate a bearish pattern.Downside is limited in the short term and a spike could be expected in the next few months,
To stock needs to breach the key levels of 500 & 564 in the medium term.The next resistance levels are at 600, 650 & 700.The stock needs to break 815 levels to hit a tgt of 875 - 940 levels.It is good to average at lower levels and sell on rise .
