CURRENT SCENARIO:
Sunpharma as of today fell and now is in Consolidation.
Majority of the Pharma sector fell down Sharply today.
This comes after it went through a huge Impulsive Phase around the last week, which gave a good Intraday returns.
Now talking about the current scenario, SUNPHARMA is currently in Correction Phase which is plotted briefly in the Chart.
CHART PATTERN:
Talking about the Patterns that comes out because of Consolidation is the Ascending Rectangle pattern.
Since after every consolidation phase ,breakout is anticipated,Sunpharma expected go into Impulsive Phase after recovery.
IMPORTANT SR LEVELS:
Talking about the important levels ,
The Immediate Support is 488,upon which the current Price is resting.
Will go for a SELL only if it break the Support of 484.
Also about the resistance , the immediate resistance is around 494, while further is at 508.
TRADE PLAN:
Planning to go Long above 494 if the necssary conditions are met,
Else will go bearish as soon as the support breaks.
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For more advice and assitance:Leave a comment
Sunpharma as of today fell and now is in Consolidation.
Majority of the Pharma sector fell down Sharply today.
This comes after it went through a huge Impulsive Phase around the last week, which gave a good Intraday returns.
Now talking about the current scenario, SUNPHARMA is currently in Correction Phase which is plotted briefly in the Chart.
CHART PATTERN:
Talking about the Patterns that comes out because of Consolidation is the Ascending Rectangle pattern.
Since after every consolidation phase ,breakout is anticipated,Sunpharma expected go into Impulsive Phase after recovery.
IMPORTANT SR LEVELS:
Talking about the important levels ,
The Immediate Support is 488,upon which the current Price is resting.
Will go for a SELL only if it break the Support of 484.
Also about the resistance , the immediate resistance is around 494, while further is at 508.
TRADE PLAN:
Planning to go Long above 494 if the necssary conditions are met,
Else will go bearish as soon as the support breaks.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
For more advice and assitance:Leave a comment