Sun Pharma: Long term and short term view

Sun Pharma CMP 482

The stock is trading right in the middle of a down trend channel since 2015 and the channel is roughly 300 points.

From medium to long term perspective based on charts, the best buy can be considered if the stock is available around 360-380 zone which is still 100 points away from current levels.

For short term traders

For short side

One can look for target 458 / 440
Stop above 505

For long trade

Target 498 / 505/ 528

Stop below 458
Trade closed: target reached: Sun Pharma
Target of 505 achieved

Made a high of 509.70 so far
is there any more upside for a weekly basis?

going forward sustaining above 476 then yes 528 is possible in a week or two...

In best case scenario and in a slightly longer term horizon the stock can head higher towards 620 zone which is the upper end of the channel. Again let me reiterate holding 476 is vital for the stock

Hope it helps...

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