The stock has witnessed a decent erosion and has bottomed out near 1,900 levels and indicated a decent bounce back with the RSI also showing a reversal and signalling 'buy'. The bias has improved a lot and the stock has the potential to rise further. Hence, we suggest to buy and accumulate this stock for an upside target of 2,450-2,500 keeping the stop loss of 1,950.
Disclaimer: The author may have positions in one or all of the above mentioned stocks. Views expressed are personal
BUY SUN PHARMA | CMP: Rs 469 | Target: Rs 510-530 | Stop Loss: Rs 450
The stock has more or less indicated a higher bottom formation pattern on the daily charts and has shown signs of reversing from 448 levels. The RSI is also improving its trend. The chart looks attractive and has signified strength and has the potential to rise further in the coming days. We suggest to buy and accumulate this stock for an upside target of 510-530 keeping the stop loss of 450.