SherBazaar

Sunpharma Sellers Activated Target 455 to 450 Sell below 460

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NSE:SUNPHARMA   SUN PHARMACEUTICAL
We had give a call on 30th May sunpharma that it has a stiff resistance at 483. Stock moved from 474 to 483. Today the stock reached 483 and reversed as per our analysis. Today, If you see daily chart of sun pharma the candle formed is of exact size of 30th April will almost same low high and open and close. what does it indicate.. it indicates that the sellers has been activated from todays high last time the sellers were managed to push the stock down from around 665 tp 448 in just a matter of trading sessions. The interesting thing about the candle formed is the volume . It indicates the same amount of volume that was on 30th April 2020. it simply indicates the sellers are in control like last time. like last time, this time sellers may try to push the stock to 450 levels we would suggest you to sell below 460 it with trailing stoploss

If you look at the analysis of wipro on 30th may. we had given the same type of candle was formed and we had given target which was above resistance level and it easily achieved the target of 220

Comments

It will break but right now sellers are in control.. sell below 460 and buy above 485.. that's our view. As there is buying zone at 460.. once it crosses resistance at 485 it will move to 500 and above levels
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Whats your view on the inverted H&S that Sun Pharma is making?
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