NeeteshJain
Long

SUNPHARMA - Bouncing Back to Gap Zone

BSE:SUNPHARMA   SUN PHARMACEUTICAL INDUSTRIES
1180 9 22
It is been observed on the daily chart that the price action is bouncing back up to fill the previous gap down levels. It shall further climb up. It is positional trade setup can go long for weeks.

Target 1- 535

Target 2- 550

Stoploss: 515
Trade active
Trade active: Moving up steadily.
Trade active
Trade active
Trade closed: target reached: Target 1 reached successfully.
Trade active
Trade closed: target reached: The price action has already touched 550 levels but could not update it on time.
holding OTM CE580 , CMP from 550 back to 527 level

+1 Reply
@rajesh2467, Keep holding it until it is above 515 levels.
Reply
Hi neetesh is this trade still active for 550? Or shud I book profits thanks
Reply
@abhinavk31, The price action has already touched 550 levels on daily chart, and now, you may hold it till 532 levels on closing basis to retest 550 levels again.
Reply
abhinavk31 NeeteshJain
@NeeteshJain, thanks for your reply. Can we say this stock is bullish in medium term. Is it worth holding for next 4-6 months?
Reply
@abhinavk31, Yes, if it holds 500 levels.
Reply
Is it right time to buy for medium term say 2-3 years?
+1 Reply
@mpjegan90, Yes
Reply
mpjegan90 NeeteshJain
@NeeteshJain, Could you please tell crucial support zones to watch out. Thanks a ton in advance.
Reply
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