SUNPHARMA - Bouncing Back to Gap Zone for BSE:SUNPHARMA by NeeteshJain

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SUN PHARMACEUTICAL INDUSTRIES (BSE:SUNPHARMA)

BSE:SUNPHARMA SUN PHARMACEUTICAL INDUSTRIES

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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 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.

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Comments

holding OTM CE580 , CMP from 550 back to 527 level

rajesh2467

@rajesh2467, Keep holding it until it is above 515 levels.

Is it right time to buy for medium term say 2-3 years?

mpjegan90

@mpjegan90, Yes

NeeteshJain

@NeeteshJain, Could you please tell crucial support zones to watch out. Thanks a ton in advance.

Hi neetesh is this trade still active for 550? Or shud I book profits thanks

abhinavk31

@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.

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?

abhinavk31

@abhinavk31, Yes, if it holds 500 levels.