Sun Pharma can give a 25-30% move: Devang Visaria

Devang Visaria, chief strategist, devangvisaria.com, in a chat with ET Now talks about Piramal Lifesciences and Sun Pharma.

If one had bought Piramal Lifesciences a few days back, is it a good time to book profits? And for somebody who wants to venture out and buy a mid-cap or a small-cap pharma stock, is there any in the offing, which could give quick returns?

Piramal Lifesciences, the statistics says that it has gone up by 74% in just the last two weeks and if you have to buy something at this level, it is a high probability that you will get stuck up for at least a couple of weeks. So you should wait and watch on Piramal Lifesciences.

Sun Pharma looks a very good candidate to give you a 25-30% kind of move over the next couple of weeks. Stock has given a good breakout about the 92-95 kind of levels and there is a minor resistance around 105. Once that gets taken out, 125-130 is very much on the cards. Also even the medium-term structure for this chart is also very good. So if you were to keep on accumulating this stock, there is a very good chance of a 30-35% gain over the next three or four weeks. So I would lay my bets on Sun Pharma at once rather than on Piramal Lifesciences.