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Weekly future recommendation:

Rationale

Post the quarterly numbers of Sun Pharma, the stock managed to move and close above its previous Call base of 600. Follow up momentum was visible throughout the week on the back of closure in Call OI positions. Highest addition last Friday was observed in 660 strike Call, which should be the target for the coming week. For a couple of sessions the stock saw accumulation of long positions whereas writing blocks are visible in 600 strike Put that is strong support for the week.

Long Sun Pharma (SUNPHA) February future in range of Rs. 620-625; Target: Rs. 665; Stop Loss: Rs. 599

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