Buy Sun Pharma; target of Rs 1485: India Infoline
Published on Friday, November 13th, 2009 at 11:23 PMAuthor: stockalert (2026 Articles)
India Infoline is bullish on Sun Pharma and has recommended buy rating on the stock with a target of Rs 1485, in its November 12, 2009 research report.
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 Rs1550 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 Rs1406. 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 stop loss of Rs 1406,” says India Infoline research report.
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