Navdeep_Singh

Third Corrective Wave in Development

Short
NSE:SUNPHARMA   SUN PHARMACEUTICAL
225 views
2
Will be on lookout for a sell setup. It is possible that we are currently forming a flag ( Wave-B ) of the third corrective wave. If the structure develops as expected, I will be looking for a lower degree correction to sell the potential C-Wave .
Comment: So far, the stock has been behaving as I forecasted. Posting my view on 1 Hour time frame. Now, we are at a region where I will start looking for an opportunity to short. If my view is correct and we get a trade setup (depending on our individual strategies), shorting the stock can give a good risk to reward ratio. Will keep posting an updated view as the chart develops.

Trade closed: target reached