Swing Opportunity in Sun Pharma

Go Long above 837.05 for Targets of 859.1, and 881.15 with SL 815

Reasons to go Long :

1. On a Daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.

2. In addition to this a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.5 Fibonacci level.

3. Also there is a strong Trendline (marked with green color), from which the stock is taking support and moving up.