483/481 was support zone for sunpharma, it coudn't break the support zone decesively and turned upward, sunpharma is showing good bullish momentum and has given breakout to the channel. We could see 502/516/522 levels.
Is it possible that it reaches 550 levels just before results?
fzxjmz
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@tksthathachari, H&S formation, expected not to cross 500 as of now. May go to 430 levels.
tksthathachari
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@fzxjmz, I am not able to see any H&S formation in SunPharma Scrip... Can you point it out?
fzxjmz
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@tksthathachari, Sun Pharmaceuticals Industries Limited has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The stock gave a negative signal from head and shoulders formation by the break down through the support at 490. Further fall to 419 or lower is signaled. The stock has support at rupee 450 and resistance at rupee 555. You may find in the daily line chart.
yogi_sharma_elliottician
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@tksthathachari, 550 is a long way, the above targets are only the possibility for now