AyushGRoy

SANOFIX TRADING STRATEGY

Short
NSE:SANOFI   SANOFI INDIA LTD
NSE:SANOFI NYSE:SA

SANOFI TRADING STRATEGY - NEXT WEEK

Stock losing momentum after hitting BOLU and entering rangebound in a descending triangle pattern on 1D charts.

MACD line moving below signal line, Aroon Down has cut Aroon Up from below, and RSI moving towards its bearish support of 50-60.

STRATEGY

Short when price moves below the triangular support zone of 8514, with a profit target at BOLD, and SL at BOLM (if above the triangular support zone ) or the upper resistance of the descending triangle