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Sun Pharmaceutical Industries Limited
Short
Updated

Triple Bearish Divergence in SunPharma

324
As seen in above charts triple stochastic divergence is seen in SUNPHARMA giving a confidence of clear bearish phase.
Short SUNPHARMA at 530 with a target of 511(T1), 498(T2) & 466(T3). Stop loss of 542 is recommended.
Trade active
Sell at 526
Trade active
Target T1(511) achieved.....
Trade active
Sunpharma is moving up. Still it seems there will be greater correction by next week.
Trade active
Hold on short position. T1(511) again achieved.
Trade active
T2 i.e. 498 support will be breached on Monday? This is by far the strongest support level for SunPharma.
Order cancelled
Cancelling the trade at 525. No profit, No loss. It seems, there's no bearish movements further.
Note
Stochastic divergence still continuing...

snapshot
akshay1808
Also on:
Technical Indicatorsstochastic-bearish-divergenceSUNPHARMASupport and ResistanceTrend Analysistripledivergence

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.
Technical Indicatorsstochastic-bearish-divergenceSUNPHARMASupport and ResistanceTrend Analysistripledivergence
akshay1808
Also on:

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.