Will Sun-Rise Again?

408 7
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

Comment: Nice 9 point bounce from support.
Comment: take some profit so that it can be a free/no loss trade.
Comment: we are in the middle. 563 to 580 and now 600
Comment: Since we booked partial @ 580 its a free trade now. My stop for the rest is at breakeven @ 567
Trade closed manually
support broken... now major support 549... if it not break , it will bounce back again... otherwise it will go down up to 492
Bravetotrade dipsindia2004
@dipsindia2004, thanks for sharing.
Don't Let The Sun Go Down On Me,
@AMBRISH, Let's hope bulls make it shine brighter for you :)
@AMBRISH, It didn't let u down :)
AMBRISH Bravetotrade
@Bravetotrade, Yes, Thanks.
@AMBRISH, always welcome.
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