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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Sir, is this trade active? i have few quantity..waiting for up move..
hustlecircuit
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@Prodip,
Yes,it gave a big upward momentum as you can see.
I hope the above chart helped you with your analysis.
Do find me on my telegram group @hustlecircuit
Prodip
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@hustlecircuit, my position was long side..SL hit in 11th June morning. big loss
hustlecircuit
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Evening @Prodip Really sorry to hear that.
If you have noticed , my calls are only for a one day basis. I won't advise you to go for long term investing.
I would suggest you to follow my daily calls for that day only.
Let me help you resolve these losses.Don't worry.
Kindly contact me on Telegram, my personal Telegram ID- @hustlecircuit1222 .
krishb2k
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Nice Analysis..
hustlecircuit
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@krishb2k, Thank you.
If you have any doubts or need assistance , do contact me on telegram group- @hustlecircuit
samyr99
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Ur view on Glenmark please
hustlecircuit
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Hey @samyr99,
I have a Bullish move for Glenmark for the long term as the 1day trend is showing Bullish move.
Since most of the pharma sector as down yesterday, I would be waiting for a chance to enter the above support to be clear.
Do check out my views on Telegram (Id-@hustlecircuit).
We keep you updated there.