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BUZZ-India's Sun Pharmaceutical hits over 2-month low; further downside seen - technicals
April 21, 2017 / 4:38 AM / 8 months ago

BUZZ-India's Sun Pharmaceutical hits over 2-month low; further downside seen - technicals

** Shares of India’s largest drug maker Sun Pharmaceutical Ltd fall as much as 2.58 pct to 639 rupees, to their lowest since Feb 16

** Stock's 20-day Exponential Moving Average (EMA) falls below its 50-day EMA, seen bearish for the stock tmsnrt.rs/2oweAQg

** Trend Intensity indicator (TI) rises to 15 indicating start of a new downtrend. MACD is also negative and below its signal line

** Stock broke below the support from its senkou span B line of its Ichimoku Cloud on Thursday, seen negative for the stock tmsnrt.rs/2oQ5xNc

** As of Thursday’s close, stock down 20.83 pct in the past one year, compared with 15.44 pct gain in the NSE index

RM: gaurav.dogra.thomsonreuters.com@reuters.net

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