ParamjitMahapatro

sun pharma looks bullish in short term.

NSE:SUNPHARMA   SUN PHARMACEUTICAL
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,
Comment: In a closer looks we can see ascending channel here, price bounced from support, now it ll try to break the trend line resistance.
Trade active: price broke out of trend line resistance and moving towards ascending channel resistance. till now 530.
Trade active: till now 549.90, so total 12.5% gain in 2.5 months, price is approaching the channel resistance. weekly followup chart
Trade closed: target reached: price already reached the descending channel resistance line, and tgt is achieved here,

Comment: 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.
Comment: In daily, price closed above upper BB with good volume and BB is expanding , looks bullish, 585+ is near term tgt ,

Yup same view. It took straight 11 session to come down from 590 to 432. Let's see how much time it takes back to test resistance. I am long on 560 call of September. Good Luck.
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ParamjitMahapatro dhirajsabharwal28
@dhirajsabharwal28, thanks for sharing your view.
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dhirajsabharwal28 ParamjitMahapatro
@ParamjitMahapatro, Be ready for 590 very soon.
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ParamjitMahapatro dhirajsabharwal28
@dhirajsabharwal28, I am waiting eagerly :)
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