Sunpharma - Preparing for its Elliot wave 3

Sun pharma is the biggest contributor in the Indian Pharma Index. So far, it has acted like a tired lion however, it seems the lion is ready to claim the kingship all over again.

Sun pharma has broken its 3-year downward trendline. RSI has already passed its complexion point.

It completed its corrective wave (2) at 450 levels around September. It is all set to touch 630, 750 & 800 levels.

800 would be a crucial level to watch and any correction from those levels will be another buying opportunity.