Technical Analysis 1: Suven Life Sciences Ltd.

24-Aug-2014
Last closing price (22-Aug-2014): Rs. 131.75

If we analyze the stock of Suven Life sciences for the last 1 year, it formed a clear Up-Flag on 21^st April 2014 after a consolidation phase between 11^th Nov 2013 to 20^th April 2014.

Click on the charts for enlarged view.

Post the break out candle, the stock maintained a steady uptrend barring few minor corrections in its move upwards.  

Going by the chart for the past 10 year data, in the last quarter, the stock broke the Rs.10-65 range it was in and has started its upward move. 

The stock has been forming higher tops and higher bottoms since the break out on April 21, 2014. 


This could be a good stock to accumulate based on Technicals. Stop loss should be Rs. 85