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Sun Pharma Advanced Research Technical Analysis: Buy | Target Rs 170 | Expected Profit 35-50%

OUR RECOMMENDATION

  Buy    SUN PHARMA ADVANCED RESEARCH COMPANY  

CP#136.9
IdeaBUY
Buy Range120 – 138
Target170 – 190
StopLoss*105
Duration3 – 4 Months
Potential Returns^35 – 50%
CP#IdeaBuy RangeTargetStopLoss*DurationPotential Returns^
136.9BUY120 – 138170 – 1901053 – 4 Months35 – 50%

# CP – closing price on Apr 13, 2020
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 153.
^ Potential returns are calculated based on the median of buy range.

COMPANY OVERVIEW - SUN PHARMA ADVANCED RESEARCH COMPANY

Incorporated in 2006, Sun Pharma Advanced Research Company Limited is an innovative clinical stage bio-pharmaceutical company engaged in creation of new drugs and delivery systems. They works o innovation and new product development for India and global markets. The pharmaceutical company undertake projects in research and technology for new chemical entities or new molecules, and novel drug delivery systems. The Sun Pharma Advanced Research Company is a subsidiary of Shanghvi Finance Pvt. Limited.

Stock Data
NSE CodeSPARC
Sectoral IndexNifty 500
52W High210.9
52W Low81
Face Value1
Relative Performance_Sun Phrma Advanced Research vs Nifty 500

SUN PHARMA ADVANCED RESEARCH TECHNICAL ANALYSIS (WEEKLY)

Sun Pharma Aadvanced Research - Weekly Chart
Sun Pharma Aadvanced Research - Weekly Chart
  • In the weekly chart, Sun Pharma Advanced Research Company Limited (NSE: SPARC) share price recently make Upside Breakout above the upper bound of a falling range as shown above.
  • SPARC stock price has been holding above all important Moving Average parameters.
  • Volumes have gone up along with SPARC  price rise.
  • The stock price of Sun Pharma Advanced Research Company limited had formed well defined Broadening Triangle Pattern over the last 15 months, and recent price movement may reach Upper boundary of this larger consolidation pattern in the next few months.

SUN PHARMA ADVANCED RESEARCH TECHNICAL ANALYSIS (DAILY)

Sun Pharma Aadvanced Research Daily Chart
Sun Pharma Aadvanced Research - Daily Chart
  • Higher Tops and Higher Bottoms at Daily Chart shows bullishness. Sun Pharma Advanced Research Company Ltd (NSE: SPARC) stock price had given the trendline breakout further indicates positive sign.
  • Buying momentum are indicating probable further rise as ADX and +DI crossing above 30 for SPARC stock.
  • Overall a positive chart and momentum pattern indicates an opportunity for a BUY trade.
  • You can Buy Sun Pharma Advanced Research Company Limited having target 170 – 190 as mentioned above. 

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MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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