Black Friday saleUp to 70% OFF
SUN PHARMACEUTICAL IND L

sun pharma looks bullish in short term.

By ParamjitMahapatro
Updated
in weekly, price bounced from downtrend channel support, regular bullish divergence formed here. price should move towards channel resistance.
Trade active
till now 483.40
Trade active
big move today, closed at 503.35.
Trade active
cmp - 503.25, price is facing resistance at the down trend line, snapshot
Note
In a closer looks we can see ascending channel here, price bounced from support, now it ll try to break the trend line resistance. snapshot
Trade active
price broke out of trend line resistance and moving towards ascending channel resistance. till now 530. snapshot
Trade active
till now 549.90, so total 12.5% gain in 2.5 months, price is approaching the channel resistance. weekly followup chart
snapshot
Trade closed: target reached
price already reached the descending channel resistance line, and tgt is achieved here,

snapshot
Note
cmp - 536, price broke out of descending channel then it retested the broken channel resistance , horizontal support also helped it to reverse and bounce back.
snapshot
Note
In daily, price closed above upper BB with good volume and BB is expanding , looks bullish, 585+ is near term tgt ,

snapshot
Bullish DivergenceChart PatternsDescending ChannelTrend Analysis
ParamjitMahapatro

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.