akshay1808

Triple Bearish Divergence in SunPharma

Short
NSE:SUNPHARMA   SUN PHARMACEUTICAL
As seen in above charts triple stochastic divergence is seen in NSE:SUNPHARMA giving a confidence of clear bearish phase.
Short NSE: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.
Comment: Stochastic divergence still continuing...


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