-------- Forwarded Message --------
Subject: Sun Pharma: What's TA Is Saying Amid Halol Plant Warning
Letter Confusion ?
Date: Mon, 21 Dec 2015 09:13:47 +0530
From: Asis Ghosh <asis...@gmail.com>
Reply-To: asis...@gmail.com
*Sun Pharma has to sustain over 810-830 for any further upside; *
*Otherwise, it may again fall towards 720-700 zone.*
*
*
*Although the US FDA warning letter possibility regarding Halol Plant *
*was widely anticipated, it may not be fully discounted by the market yet.*
*CMP: 790*
*
*
*Sell on rise around: 810-830*
*
*
*TGT: 755-721-702-690*-675-655 (1-3M)*
*
*
*TSL> 850*
*Note: Consecutive closing above 850 for any reason, Sun Pharma may
rally up to 875-895-916-966 in the near term in alternative bullish case
scenario.*
For Sun Pharma, it seems that "ghost" of Halol Plant (Ranbaxy) is still
there. On last Friday, after market hours, the company disclosed that
they had received the warning letter from US FDA on 18/12/2015.
Although this warning letter was widely expected after DRL fiasco, the
same may not be fully discounted by the market yet.
Although the company is confident to resolve the issue, in the worst
case scenario, an import alert may also be issued by US FDA in future
for this Halol Plant, but the possibility of the same is lower,
considering the integrity & professionalism of Sun Pharma management.
The company needs to disclose fully the contents of this warning letter
publicly, but that may not be possible at this moment, unless US FDA
disclosed that officially. The company is focusing on US FDA compliance
for this Halol Plant, rather than transferring its manufacturing
facillity to other compliant plants and is also taking necessary
corrective measures for its other plants..
After steep fall in Nov on the back of this Halol Plant "legacy issues",
(thanks to Ranbaxy), the scrip recovered to some extent from the bottom
for various reasons and product approval of Gleevac (a block buster anti
cancer drug) from US FDA may be one of them. Sun Pharma managed to shift
this product to its other plant from the Halol. But, this may not be
possible for every other product.
*Technically, the scrip may be in the C-Wave (A-B-C) in the daily EW
cycle and in that scenario, 1-st corrective wave in the fresh EW cycle
(1-5 & A-C) may bring it again around 720 level in the days ahead. It
may consolidate near 720-690-655 zone for some months until this US FDA
issue is fully resolved and further clarity emerges. *
But having said that, worst may not be over yet for the scrip, as the
market may further discount it for any possible import alert. Thus buy
in dips for Sun Pharma around 690-675 level will be better, considering
the favourable risk reward ratio.
*
*
*Analytical Charts:*
<http://3.bp.blogspot.com/-A6or00Ad_6w/VndyMkerhSI/AAAAAAAAFXs/kckvHkajwDs/s1600/Sun%2BPharma-18-12-2015.png>
<http://1.bp.blogspot.com/-cXHhDbFJBPM/VndyP-M2QVI/AAAAAAAAFX0/ramweHWfY1I/s1600/Sun%2BPharma-FIBB-18-12-2015.png>
<http://2.bp.blogspot.com/-HHrtzLNgwU8/VndyR4GXzTI/AAAAAAAAFX8/fOipZ8kOlTg/s1600/Sun%2BPharma-WK-18-12-2015.png>
<http://4.bp.blogspot.com/-SS94JpwedUc/VndyUEKR95I/AAAAAAAAFYE/X2Bk9X3monk/s1600/Sun%2BPharma-TL-RSI-18-12-2015.png>
<http://3.bp.blogspot.com/-A_ZsA-vnEpI/VndyWYvcIWI/AAAAAAAAFYM/3OL2_rRadGI/s1600/Sun%2BPharma-Pattern-18-12-2015.png>
<http://4.bp.blogspot.com/--5w1okQTt_I/VndyY-C1NSI/AAAAAAAAFYU/7_jrPbwP538/s1600/Sun%2BPharma-EW-18-12-2015.png>
--
Thanks & Regards,
Asis Ghosh
(asisghosh.blogspot.com)
--
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