High Conviction MTF Pick :- Sun Pharmaceutical Industries 28th July 2026 by Bajaj Broking
Sun Pharmaceutical Industries Ltd
Buying Range: 1950 - 1980 Target: 2180 Return Opportunity: 11%
Technical Outlook
The stock has generated a breakout above the last 21 months consolidation range of 1960 - 1583 signaling strength and offers fresh entry opportunity .
The base of the entire consolidation is placed at the 12 months EMA highlighting positive bias . The current month low of 1860 will act as immediate support for the stock in the medium term .
Sun Pharma has exhibited strong relative strength on the monthly chart by retracing its 16- month decline (Rs1,960 –Rs1,583 ) in just five months . Such a faster retracement signifies robust demand and a decisive shift in momentum . Further, the stock has broken out above a major consolidation range, indicating a structural trend reversal and the formation of a higher base . This price behaviour points towards a continuation of the primary uptrend and underscores the stock's long - term bullish structure .
The stock is maintaining a strong uptrend with a series of higher highs and higher lows on the monthly chart . Having entered uncharted territory, it is well placed to extend its up move towards 2180 , the 161.8% external retracement of the 1960 –1583 decline, over the coming quarters .
The monthly 14 periods RSI is in up trend, it has recently generated a buy signal moving above its nine periods average thus supports the positive bias in the stock
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