 "Indications are in the favor of gradual recovery in Sun Pharma from hereon thus we advise creating fresh longs in the given range.")
Sun Pharmaceutical Industries Limited
Recommendation: Buy
Last Close: 506.15
Initiation range: 500-505
Target: 540
Stop loss:485
Sun Pharma has been witnessing profit taking for the last two months, after a strong rally from roughly 310 to 560+ levels. It has reached the support zone of major moving averages on multiple time frames and they all coincide closer to 485 levels. Indications are in the favor of gradual recovery from hereon thus we advise creating fresh longs in the given range.
Sumitomo Chemical India Limited
Recommendation: Buy
Last Close: 297.75
Initiation range: 292-296
Target: 320
Stop loss: 280
Sumichem has taken
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