See higher levels in SPARC, says Sukhani

See higher levels in Sun Pharma Advanced Research Company (SPARC), says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Sun Pharma Advanced Research Company (SPARC) has done something which is quite interesting. It has gone up from Rs 85-135 in the last two months, while we were talking about the Nifty and the Nifty was in that trading range. Yesterday it moved up out of a big trading range and that tells us that there is significantly more upside here."
He further added, "It is part of the pharma sector which does well which is the current favourite of the market. So all said and done, this is a very good opportunity for day traders. Yesterday’s big range should see follow-through today, so we should not worry that this will not go higher. The chances are it will go much higher before it stops."
"Max India has broken out of a three month trading range and that trading range developed not on a decline, it developed on a big rally. So we had a big rally, a three month trading range and a breakout today. That by itself qualifies for an intraday short-term buying opportunity. These range breakouts usually have follow-through before they decide, okay let us pause, consolidate or do whatever. So it is fair to assume that in a bullish market with the Nifty cheerful, a stock chart cheerful we should be going for it."