Transition of Sun Pharma

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After facing a downaward trend in the share price movement of Sun Pharmaceuticals Ltd, the company's share price rose by 3% and also was the leading performer of the nation's equity market. The company's share reached its weekly low during 26th February and was also the lowest price over past 6 months. But the company's share price suddenly rose from Rs.375 to Rs.388.5 in one day due to its new product launched in the US market. The company has been a leading manufacturer of various drugs and medicines with well established business operations all over the world that makes the company stablized in its sector.

The following graph of Bollinger bands shows that the company's share price has reached its lowest band along with its lowest price which has changed by the rise in price of the company's share. The graph also indicates the support level of the share price as it has reached the lowest point and there has been a transition in the company's bearish trend. Also with the introduction of new diabetic medicines in the US market, the company has also increased its chances of making profit in the business and also provided with an infusion of product to boost their growth and profits.

 

The Ichimoku cloud also shows that there is a change in the trend of price movements with the formation of green cloud which is also showing an upward trend in the future prices. The chikou span line(lagging line) also indicates an upward trend in the price movement of the stock as the line is showing an upward trend. Along with the upward trend shown by chikou span line, the base line has cut the conversion line from below and is above the conversion line for the trading sessions which indicates buy signal for the stock as it denotes the transition of bearish trend to bullish trend for stock. The company's stock has shown a bullish trend which would continue for few trading sessions as a result of the introduction of medication into the market and also will rise with consistency.

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