Technical Reasons - 3 years Long Channel formation breakout, so now stock has stopped forming lower low and lower high. -Double bottom formed near 437 Levels and W formation breakout happened near 600 zones, which also confirms that stock is not ready to make higher high and higher low.
Targets- Medium term and positional target is 720/850 levels with SL below 600.
Overall Pharma sector is showing strong strength with many of the stocks like Torrent Pharma/Piramal ent already making new highs, being Sun pharma a Nifty 50 stocks, therefore it will attract more and more FII investments.
I had shared Nifty Pharma charts a month ago and index gained almost 13%+ since then.
overall Sun Pharma & Cipla with outperform the Nifty 50 in time to come. Cipla will also start its rally in Sep expiry.