Abhijit Paul of Alphative Advisors told CNBC-TV18, "Sun Pharmaceutical Industries is one pocket of strength that is holding fairly okay. I would like to see some extension of this move. Buy the stock in the Futures market if it moves above Rs 625, in that case using a stoploss close to Rs 600, one can expect an upside target close to Rs 670-675."
At 13:44 hrs Sun Pharmaceutical Industries was quoting at Rs 609.60, down Rs 5.10, or 0.83 percent. It has touched an intraday high of Rs 626.25 and an intraday low of Rs 609.
The share touched its 52-week high Rs 650 and 52-week low Rs 389.63 on 10 October, 2013 and 13 February, 2013, respectively. Currently, it is trading 6.22 percent below its 52-week high and 56.46 percent above its 52-week low. Market capitalisation stands at Rs 126,258.15 crore.
Disclosure: He does not own the stock but his clients may have these positions.
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