E Margin Stock Pick - Buy Sun Pharma Ltd For Target Rs. 757 - HDFC Securities
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E Margin Stock Pick - Buy Sun Pharma Ltd For Target Rs. 757 - HDFC Securities
Observations:
* Sun Pharma has been consistently rising in the last few weeks after testing a low of 562 in March 2020.
* The 562 levels also coincide with a trend line support as can be seen from the chart above.
* The stock is also trading above the 20 and 50 day SMA and momentum indicators like the 14-day RSI are in rising mode and not overbought. This augurs well for the uptrend to continue.
* With the intermediate and long term technical setups too looking positive, we believe the stock has the potential to move higher in the coming weeks and therefore recommend a buy. Our entry levels with stop loss and targets have been mentioned above.
Buy Sun Pharma Ltd 2-6 Months @ Buy between 610-623 CMP 616.65 TGT 757 SL 570
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