k314

SUNPHARMA monthly chart study

NSE:SUNPHARMA   SUN PHARMACEUTICAL
SUNPHARMA is at a crucial support zone (472-481)
It never closed below 474 on monthly basis since last 5 years. A close below 474 could open up a bigger downside. At the same time it has been trading withing a channel of thin width. Above 608 it could start a fresh bullish rally.
Comment: On monthly chart Sunpharma close at 480+ (MAY candle). Thus bulls are now safe.
Looking forward to buying after the channel breakout
Comment: Support broken in DEC 2018
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.