SUNPHARMA -TGT 1640-1694-1710-1764 SL BELOW 1480
Sun Pharmaceutical Industries Ltd. is an interesting chart with following
FUNDAMENTALS
Company is almost debt free.
Company has delivered good profit growth of 26.4% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 56.0%
Technical
1. RSI on weekly and monthly time frame above 60
2. Price Taking Support at 20 Week SMA
3. ABCD Pattern under formation on Weekly chart
4. Narrowing Bollinger Bands on Daily chart and Price taking support at middle Band
5.Both ARS and SRS above zero
Caution : Pharma stocks are subject to Global risks
Can be a good risk reward with buy on dips with Support near 1484-1490 zone and resistance near 1640 (52 week High) -1694- 1710-1763 levels
Lets See How it evolves
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
FUNDAMENTALS
Company is almost debt free.
Company has delivered good profit growth of 26.4% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 56.0%
Technical
1. RSI on weekly and monthly time frame above 60
2. Price Taking Support at 20 Week SMA
3. ABCD Pattern under formation on Weekly chart
4. Narrowing Bollinger Bands on Daily chart and Price taking support at middle Band
5.Both ARS and SRS above zero
Caution : Pharma stocks are subject to Global risks
Can be a good risk reward with buy on dips with Support near 1484-1490 zone and resistance near 1640 (52 week High) -1694- 1710-1763 levels
Lets See How it evolves
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.