February 29, 2016
Sun Pharma (NSE Cash)
SELL
`902
` 863 - 867
` 787
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: 12:20 IST)
Justification:
Since last few months, the stock has been forming ‘Lower Tops’ Lower Bottoms’. Post the recent up move from
`704, prices are currently trading near the resistance zone and is showing signs of weakness from the
resistance. The ‘RSI’ indicator in daily charts has given negative crossover and is showing signs of resumption
of the downtrend. Thus, we advise traders to sell this stock from current level to a bounce up to ` 867 for a
target of ` 787 in coming 14 to 21 trading sessions. The stop loss for this trade set up can be kept at ` 902.
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February 29, 2016
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Source: Angel research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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