The share price of Sun Pharma has seen a sharp rebound in the first half of June 2018 after forming a bullish double bottom around Rs 435. In the last five weeks, it is seen consolidating in a narrow range thus forming the base for the next up move.
The stock during mid-June 2018 has registered a resolute breakout above the falling trend line Joining the high of August 2016 (855) and February 2018 (609) placed at Rs 540 levels.
The index in the last five weeks is consolidating in a range above the trend line breakout area and the 52 weeks EMA signalling higher base formation in the stock
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