Sun Pharma – Stock Report

24 May 2015: Sun Pharma has made a good base in the range of Rs 930 and Rs 960. In the past week, Sun Pharma stock broke out from those levels and crossed 1000 on Friday based on follow-up buying and short covering. We can expect the buying to continue in the coming weeks. The stock may test Rs 1030. Therefore,  Sun Pharma can be bought between 980-1000 for target of 1030-1040, and at current level with stop loss will be Rs 960. This is a near term trade. For longer term investors, Sun Pharma also has upside target of 1200 over next 12 months.