Buy Sun Pharma for target of Rs 1485: India Infoline
Published on Thursday, November 12th, 2009 at 9:57 PMAuthor: stockalert (2026 Articles)
India Infoline has advised traders to buy Sun Pharma for target of Rs 1485.
“Sun Pharma has been trading in a range of Rs 1,460 to Rs 1,050 post election. On Wednesday, the stock touched upper end of its trading range with impressive volumes. We believe that the current run up may lead to a breakout, which should result into a potential upside up to Rs 1550 and above.
Technically, the stock is showing strength along with the momentum, and given the positive oscillators set-up, the stock could outperform as long as it sustains above short-term moving averages placed around Rs 1406. We recommend traders to buy the stock for a short-term target of Rs 1485 and a medium term target of Rs 1,550. It is advisable to maintain a stoploss of Rs 1406,” the report said.
Note: Trading idea valid for time period of 1-3 days.
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