Amid today's 333 points Nifty Selloff, the only Nifty stock gave a bullish engulfing breakout is 
SUNPHARMA .
Multi timeframe analysis gives various aspect to be bullish for at least 1:1 Risk-to-Reward target:
Trade: BUY above 1405 for a 1500+ target. Keep a SL of 1310 (closing basis).
SUNPHARMA .Multi timeframe analysis gives various aspect to be bullish for at least 1:1 Risk-to-Reward target:
- In W chart, it's a clear breakout of a rounding bottom patten created over last 8 years (since 2015).
- During this course it breaks out convincingly the last all-time-high of 1200 around 2015 Q1.
- In D chart, it is trading in a nice up trend channel. Today's candle near-beakout of the upward channel's upper band.
- Very high volume in Daily chart
- And today's candle is an overwhelmingly convincing Bullish engulf patten.
Trade: BUY above 1405 for a 1500+ target. Keep a SL of 1310 (closing basis).
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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.