2024-10-24 10:45:27 am | Source: Religare Broking
Stock of the day : Sun Pharmaceutical Industries Ltd For Target Rs. 46 - Religare Broking
Sun Pharmaceutical Industries Ltd
* Selling pressure is evident throughout the pharma space and SUNPHARMA trades parallel to same tone.
* Recently the stock witnessed breakdown below its rising trend line after a distribution pattern or range consolidation.
* Momentum indicators suggest the tone is likely to continue with negative bias & follow-on selling pressure could mount.
* Traders are recommended to play the momentum with using PUTs in the mentioned range.
Buy Sun Pharmaceutical Industries Ltd CMP 22.9 Range 21-24 SL 12 Target 46
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