nimbuz90

Pattern within a pattern

Long
NSE:SUNPHARMA   SUN PHARMACEUTICAL
An inverted HS pattern has been formed inside a falling wedge . The stock has been consolidating inside a falling wedge pattern for the past month and finally has given a breakout. Now that the breakout is tested, We can go long above its swing high for a small scalp. It is also interesting to observe a Inverted HS pattern formed at this support juncture.

Hence we can go long above 515 for a target of 535.

Entry - Above 515
SL - 500
T1 - 523
T2 - 530
T3 - 535

For study purpose
Thanks.

Trade active
Comment: The stock is facing a lot of resistance. Hence closed my position @ entry level as of now. Will enter once again if it crosses above 517.
Comment: This is one choppy trade. After testing a lot of patience it reached target 1.
Trade closed: target reached: Finally they hit all the targets on 3rd may.
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