Analysis Report #SUNPHARMA

Stock Analysis : Sun Pharmaceutical Industries Ltd.

Overview :
Sun Pharmaceutical Industries Limited (NSE: SUNPHARMA, BSE: 524715) is an Indian multinational pharmaceutical company headquartered in Mumbai, Maharashtra that manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) primarily in India and the United States. The company offers formulations in various therapeutic areas, such as cardiology, psychiatry, neurology, gastroenterology and diabetology. It also provides APIs such as warfarin, carbamazepine, etodolac, and clorazepate, as well as anticancers, steroids, peptides, sex hormones, and controlled substances.

Technical View :
Sun Pharma is cracking 7-8% from 563 to 515 ahead of the US FDA inspection scheduled in next few days. No One knows what’s the outcome. However Technically, the overall structure of the charts is weak.
Stock has broken an important support 540 joining the rising trend-line support from lows of 430 (Aug 2017) & 499 (Dec 2017) & on its way to test its next major support 507-515 which is 61.8% Fibonacci Retracement of the entire up move from 95 (March 2009) to 1200 (April 2015).
Currently 550-560 is the resistance & breach below 507 may further deteriorate the overall prevailing technical structure over last 1 year.

Below 507, stock can test 460-450 zone.

Medium Term Reversal only likely above 560.



Comments

  1. UnknownFebruary 20, 2018 at 11:06 PM

    Hii

    Please share me your twitter handle id , Your message is rotating on whatsapp.

    ReplyDelete

Post a Comment

Popular posts from this blog

Dan Zanger’s 10 Golden Rules

1. Make sure the stock has a well formed base or pattern. 2.Buy the stock as it moves over the trend line of that base or pattern and make sure that volume is above recent trend shortly after this "breakout" occurs. Never pay up by more than 5% above the trend line. You should also get to know your stock's thirty day moving average volume. 3.Be very quick to sell your stock should it return back under the trend line or breakout point. Usually stops should be set about $1 below the breakout point. The more expensive the stock, the more leeway you can give it, but never have more than a $2 stop loss. Some people employ a 5% stop loss rule. This may mean selling a stock that just tried to breakout and fails in 20 minutes or 3 hours from the time it just broke out above your purchase price. 4.Sell 20 to 30% of your position as the stock moves up 15 to 20% from its breakout point. 5.Hold your strongest stocks the longest and sell stocks that stop moving up or are acting sl
Read more

Stock Pick #CLNINDIA : Clariant Chemicals (India) Ltd.

Image
Stock Analysis : Clariant Chemicals (India) Ltd. Overview : Clariant Chemicals India Ltd is an Switzerland based specialty chemicals manufacturing company. The India office is headquartered in Thane. It also largest producer of Pigments, Textile Chemicals & Leather Chemicals in India. The main business activity of Clariant Chemicals (India) involves manufacture of specialty chemicals for domestic and industrial use. It manufactures and markets textiles, leather, paints, plastic, printing inks, and agrochemicals products in India. It has presence in many international markets. Technical View : Forming  Double Bottom  pattern on  Daily Basis  and today taking a healthy breakout with huge volume. If it sustain above  638 and 3 days + weekly close  above this level, then we will see this stock blasting upto 690. Buying zone is seen at 630 - 640  in upcoming days stock is heading towards  688/730/755 . 
Read more