The low for the day was 1179, higher than the lows for the previous four days.
The closing has been marginally higher than the 8, 10 and 50-day Moving Averages.
However, the 14-day Positive Directional Index (DI+) is lower than the Negative Directional Index (DI-). The silver lining though is that the difference between DI+ and DI- is only -4, lowest since 14th Aug '09.
12-day Rate of Change is quite strong at 6.5%, in fact strongest since 4th Aug.
The 2-day Relative Strength Index is at 85%.
The 3, 10-day Moving Average Convergence Divergence is 3, highest since 28th Aug.
The closing candle has just about managed to break above the Ichimoku Kinko Hyo cloud.
Thus, Sun Pharma might turn out to be a dark horse with a decent bull run in the near short-term. Watch out for 1260.
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