Buy Sun Pharmaceutical Industries, advises Sameet Chavan

Sameet Chavan of Angel Broking told CNBC-TV18, "Last Monday, Sun Pharmaceutical Industries gave a breakout on the hourly chart from its resistance zone of Rs 880-885 with decent volumes. We were expecting this stock to do well but unfortunately there was clearly lack of buying interest. However, looking at the overall daily chart structure, we believe that Rs 882-885 is likely to act as a strong support.""Considering its daily as well as weekly chart structure, we believe that there is a possibility of very good upmove towards Rs 940-950 over the next trading sessions. It can be bought with a small stop loss of Rs 869," he said.