Sunpharma breakout
Updated
On a daily chart time frame , important resistance zone around 1069 (yellow line marked on chart) has been broken with good volume (higher than average)
On 2 hrly chart a rectangle shaped consolidation has been broken, vol during the consolidation was low , and is high on and after breakout
Rise is seen in ATR on and after breakout, and had an overall rising ATR during the bullish leg
It can be used for short as well as longer time frame i.e. trade can be loosened
Depending on candles tgt can be increased
On 2 hrly chart a rectangle shaped consolidation has been broken, vol during the consolidation was low , and is high on and after breakout
Rise is seen in ATR on and after breakout, and had an overall rising ATR during the bullish leg
It can be used for short as well as longer time frame i.e. trade can be loosened
Depending on candles tgt can be increased
Trade closed: target reached
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