Suven life sciences at Rs 170, promises to defy gravity as it has reached the bottom. Scrip has fully bottomed out, resting on 200 Week MA. It is also in a declining triangle, with a firm flat support between 148 ~ 163. It needs a volume breakout, although pricewise it has reared its head up at Rs 170 now. Catch in an infant stage is what it is presently appearing and once pharma industry develops fancy - which it should now soon anytime - with stabilisation of Trump's policies, it will race ahead dramatically. All fundamental parameters are encouraging. Rs. 220 would be the first strong resistance and thereafter I daresay, Rs 445 may not be far away - say in a year's time frame !!! Just Buy and hold with a stoploss of Rs 148.
Comments
khushijain
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Good analysis - I agree with your views!
Company is fundamentally sound and technically poised for growth from here on. Has reduced debt and sustained growth with regular dividend payouts. I have Suven Life Sciences in my portfolio...
Company is fundamentally sound and technically poised for growth from here on. Has reduced debt and sustained growth with regular dividend payouts. I have Suven Life Sciences in my portfolio...