Sun Pharma - Looks weak but struggling

SUNPHARMA is going through a down trend and once again near to the upper trend line.

Stock has been struggling since a few days attempting to break the trend line but no avail. At the same tie the Friday crash off Nifty could not do much damage to the stock.

Buy Sun Pharma above 535 with target of 575. Keep SL of 512 or 522 (above trend line) on closing basis

At the same time on the down side I'll like to make a short below 508 for immediate target of 500. If triangle is broken from bottom then target of 468 / 435 / 400 and below. Short SL 515 (closing basis) or 525 strict SL

Trade active:

Trade triggered for short @ 508.
Since the stock is at support line it can very well bounce from here. Maintain the SL of 498

Comment:

Hope everyone booked at 498
Profit -> 508 - 498 = INR 10
if you traded in 1 lot then your profit is 800 x 10 = INT 8000

Trade closed: target reached