Buy Sun Pharma - Short Term Pick

Analysis:

• Stock is forming triangle formation on daily chart breaking down slopping trendline.
• Volume rising during the breakout suggests confirmation of breakout.
•  Stock is tagging upper Bollinger band suggest upward strength in this counter.  
• Momentum indicator RSI is in bullish 60 zone suggest buyers action in this counter.
• Stock is above its 20 days SMA, 50 days EMA, 100 days EMA & 200 days EMA suggest uptrend.

Strategy: Buy SUN Pharma at CMP- 611 for possible Target- 635/ 650 with stop below 600 on daily closing basis.