Buy or Sell: Sun Pharma, SBI Card among 4 stock trading ideas to look at by Emkay Global
From a sector perspective, the Pharma sector found support at the lower band during a consolidation patch. Sun Pharma, one of the leading stocks, showed a very bullish development with a 100 months rounding bottom breakout. The Realty sector, after a decade of underperformance, formed an all-time high.
On the bearish side, the IT index was the worst performer with a loss of 3%. The Index may experience pain up to 31,200 level. One promising stock in the healthcare sector is Apollo Hospital.
The stock recently broke out above a 72-week consolidation patch and breached a tiny trendline after a retest of the breakout level, indicating a resumption of the bullish trend. On the daily chart, the stock is bouncing from the oversold zone and 100 period moving average and is currently trading above its short-to-long term moving average across all time frames. It may be a good time to buy Apollo Hospital stock, as it offers a good buy opportunity in the range of ₹5,162 to ₹4,985 levels, with a potential upside of up to ₹5,800 levels and a stop loss ₹4,800.
The Nifty Realty Sector has recently reached an all-time high level, after underperforming for a decade. DLF has given a breakout after ₹75 trading sessions and is currently forming a base at a key support level. It may be a good opportunity for investment to buy the stock at the support level of ₹528 with a stop loss of ₹510.
The potential upside for the stock is up to 570 levels, so considering investing in it might be a good idea. After a strong rise, the Pharma sector had a time-wise correction. Pharma sector is rising from lower band of consolidation.
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