SHORT SUNPHARMA
Updated
Sun Pharma may show further downside as Bears have successfully fooled Bulls and may pull it downward
The triangle is about to get penetrated and I think it will be penetrated through a down move
Although the closing is near to its Fib Support level of 428.25 Bears may drag it downwards
As it's very close to its Fib Support level it's very much important to have a Strict SL so I would suggest you to add a Stop Loss at 436.92 level with a target at 416.10
Its RISK/REWARD Ratio of 1: 1.5 which is quite acceptable
The triangle is about to get penetrated and I think it will be penetrated through a down move
Although the closing is near to its Fib Support level of 428.25 Bears may drag it downwards
As it's very close to its Fib Support level it's very much important to have a Strict SL so I would suggest you to add a Stop Loss at 436.92 level with a target at 416.10
Its RISK/REWARD Ratio of 1: 1.5 which is quite acceptable
Trade active
ALTHOUGH CHARTS OF SUN PHARMA ARE SHOWING REVERSAL REVISE SL TO 427.60 AT LET TARGET REMAIN SAME 416.10 AND WE CURRENTLY HOLD NET PROFIT OF RS 0.96
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