Sun Pharma today broke the important trend line support by giving a close below 830. Minimum technical targets for that comes around 770.Beyond that targets come around 700. After 800 next support will be 765 and then 702
Meanwhile the stock is trading 50 and 200 day SMA and now ready to go down more. 814 is lower end of Bollinger Band and around 808 lies the 89 and 100 day SMA. On options side the stock has highest OI in 800PE for the March series so do not expecting much downside in the stock for this expiry but in next month there can be much more downside.
Disclosure: I do hold short positions in the stock and i am not a SEBI certified analyst.
Comments
Post a Comment