Sun Pharma Advanced Research’s stock rallied sharply towards the end of 2023. But since the beginning of this year, it was largely trading in a broad sideways trend. Last week, it gained nearly 18 per cent, indicating that the stock has resumed the uptrend. While there is a chance for the price to see a corrective decline to ₹400 from here, we expect it to eventually rally to ₹500 in the short term. Therefore, participants can consider buying this stock now at ₹433 and accumulate if the price dips to ₹405. Place stop-loss at ₹375. When the stock touches ₹460, tighten the stop-loss to ₹435. Raise the stop-loss further to ₹460 when the stock hits ₹485. Book profits at ₹500.
Today’s Stock Recommendation: 8 April 2024
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)