Sunday, September 20, 2015

Triple Bottom on SunPharma

Sunpharma was most in talks for Ranbaxy acquistion and it was looked negatively but now its trying to turn around mood. It has announced sell of Ranbaxy's Central Nervous System (CNS) unit to Strides for almost 165 cr including employees. This should come as a relief rally on the stock but technically stock should approach 950 level which is breakout from consolidation phase and a triple bottom breakout on weekly charts as attached. Stock has always taken support around 100 Weekly avg (Pink) and this time too we are witnessing a turnaround. As markets are expected to be volatile, stock could act as a gud defensive bet. But for long term investors, i must recommend to start buying for sure. Short term tgt 950!! SL::880

App: Android

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