[Premium] Trade Of The Week

JC Parets
May 9, 2021

This week we're looking at two long setups in the Pharma sector. With Nifty Pharma breaking out above its resistance of 13,500, a couple of stocks that we've been tracking for quite some time now have also followed through with a breakout.

Let's take a look at these names and track their levels going forward.

Sun Pharmaceuticals has been on our radar for quite some time and we've finally observed a breakout in this stock. The indicator is moving towards the bullish momentum sentiment region and what we see here is a five-year base breakout. Within sectors that are performing well, the big-base breakouts continue to come through.

We are bullish above the level of 653 with a target near 862.

Click on chart to enlarge view.

Next up, we have a stock that has appeared on our 'weak' list more often than it has on our 'strong' list.

Lupin has been finding it extremely difficult to move past the 1,120 mark. With the strong bullish candlestick pattern in the week gone by, we're looking at a four-year base breakout!

We are bullish above the level of 1,120 with a target near 1,500.

Nifty Pharma has been putting in a strong performance week after a week, and if we see a follow-through of that, there's no reason why the above stocks shouldn't do well!

Thanks for reading and please let us know if you have any questions.

And if you're a Premium Member, be sure to check out our other weekly post, "Three Charts For The Week Ahead."

Allstarcharts Team

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