Buzzing stocks- SUNPHARMA stock is recovering towards 708 and 725 levels

SUNPHARMA stock technical analysis SUNPHARMA stock technical analysis Sun Pharmaceutical Industries Limited stock is trading at 697 with gain over 5%. SUNPHARMA stock is top gainer in F&O segment as well as in Nifty 50 index. From short term view, SUNPHARMA stock is in absolute downtrend and given bearish breakdown at 750 rupee level. On downside achieved all downside target on election result panic as well as news flows. Currently stock is recovering from lows and trading above support of 684 and heading towards resistances as well as targets of 708 and then 725.   Stock future traders holding longs in SUNPHARMA stock future trail stop loss just below 684 and expect target of 708 and then 725 rupee. Below 684, stock will resume super bearish trend for targets 667 and 640 rupees. Stock option traders can buy and accumulate on decline in SUNPHARMA 700 call options with stop loss for big short term gains. Today this stock call options rallied from low near 16 rupee to high of 27+ in intraday.   From medium to long term view, stock has achieved its downside target of 590 rupee and has taken support at that level and now reversal move suggesting target of 896 for medium to long term view.

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Pramod Baviskar

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