virajmokadam

Sunpharma ready for recovery.

Long
NSE:SUNPHARMA   SUN PHARMACEUTICAL
1. Structure is still LH-LL on Daily TF. Descending channel formation.
2. Today pharma sector has shown good momentum all major stocks participated but SUNPHARMA was lagging. It should show good up move tomorrow if pharma sector continues up move.
3. Today price closed near 50 DMA with a hammer pattern. It can break it.
4. INTRADAY - If price moves above 600 then up trend till 610.
6. SWING TRADE - Start buying stock at 590-600 for the target of 645-55.
7. V shape recovery has been seen in past. For ex: 12th Jan to 3rd Feb.
8. Volume has decreased since 3rd Feb with price falling. This looks like accumulation phase which can breakout near 605-610.
9. Pharma sector can also show good up side momentum ones it crosses 12350.


Support line - Green
Resistance line - Red
Trend Line - White
VWAP Line - Yellow
50 DMA Line - Thin MV line.
200 DMA Line - Thick MV line.

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