Will Sun-Rise Again?
Updated
Hello Traders,
In my previous post on SunPharma I presented a bearish view.
It didn't go as per expectations but gave a bearish engulfing much later at 591. Those who shorted there must be sitting in profit at present.
The stock has been observed to be bouncing inside an uptrend channel. I expect it would once again take support at 560-565 levels and bounce back to the upper trend line to hit 600-610 level.
To trade watch for bullish setup (closing basis) at/near support area and go long; with a stop below the support area.
Hit like/comment if you think this analysis can be useful.
Trade safe.
Best Regards
Bravetotrade
In my previous post on SunPharma I presented a bearish view.
It didn't go as per expectations but gave a bearish engulfing much later at 591. Those who shorted there must be sitting in profit at present.
The stock has been observed to be bouncing inside an uptrend channel. I expect it would once again take support at 560-565 levels and bounce back to the upper trend line to hit 600-610 level.
To trade watch for bullish setup (closing basis) at/near support area and go long; with a stop below the support area.
Hit like/comment if you think this analysis can be useful.
Trade safe.
Best Regards
Bravetotrade
Note
Nice 9 point bounce from support.Note
take some profit so that it can be a free/no loss trade.Note
we are in the middle. 563 to 580 and now 600Note
Since we booked partial @ 580 its a free trade now. My stop for the rest is at breakeven @ 567Trade closed manually
JJ Singh
Trader/Investor
Moderator, TradingView
🚀Join t.me/jjsingh_2020 ,
A Free Education channel
🚀Tweet at twitter.com/JaySingh_2020
Trader/Investor
Moderator, TradingView
🚀Join t.me/jjsingh_2020 ,
A Free Education channel
🚀Tweet at twitter.com/JaySingh_2020
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