Sun Pharma and Dr Reddy

Sun Pharma – Technical Chart

Key data :

CMP500
52 wk high512
52 wk low315
Target 1
Target 2
700
1000
Stop loss430
50 dema470
200 dema444

Consolidation after breakout

Stock gave a breakout at 450 odd levels in April 2020, since which it is consolidating a range of 450 to 520 forming a flag pattern. A breakout above 520 levels, stock can touch levels of 700 and 1000 in due course

A stock to be kept on radar, given its the largest weight in a rising pharma sector

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Dr Reddy’s – Technical Chart

Key data :

CMP3900
52 wk high4296
52 wk low3515
Target 1
Target 2
4800
5800
Stop loss3600
50 dema3870
200 dema3370

Consolidation after breakout

Stock gave a breakout at 3350 odd levels in April 2020, after which it went upto 4200 levels and since then it is consolidating a range of 3600 to 4200 forming a flag pattern. A breakout above 42000 levels, stock can touch levels of 4800 and 5800 in due course

A stock to be kept on radar, given its the 2nd largest weight in a rising pharma sector

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