Nifty_Club_India

Sun Pharma_ a Technical View

Long
NSE:SUNPHARMA   SUN PHARMACEUTICAL
View- Very Bullish

Technical Reasons
- 3 years Long Channel formation breakout, so now stock has stopped forming lower low and lower high.
-Double bottom formed near 437 Levels and W formation breakout happened near 600 zones, which also confirms that stock is not ready to make higher high and higher low.

Targets- Medium term and positional target is 720/850 levels with SL below 600.

Overall Pharma sector is showing strong strength with many of the stocks like Torrent Pharma/Piramal ent already making new highs, being Sun pharma a Nifty 50 stocks, therefore it will attract more and more FII investments.

I had shared Nifty Pharma charts a month ago and index gained almost 13%+ since then.

overall Sun Pharma & Cipla with outperform the Nifty 50 in time to come. Cipla will also start its rally in Sep expiry.
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