Sun Pharma to continue downtrend
Sun Pharma has been trading in down trend and trading in bearish channel respecting support and resistance although it fell sharply by making false break and again entered into the channel. It closed today on the edge of channel resistance but unable to make breakout, traders may wait to see the breakout and enter accordingly, if breakout occurs go long and if not go short with a target of somewhere between 650-635.
Trade active
stay short sun pharma till target.Trade closed manually
close sun pharma short positions, it may retest the broken level before going up then exit close to short entry price.
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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.