SUNPHARMA: Cup & Handle

Formed bullish Peanut pattern in accumulation phase expresses the Fear phase at MAJOR SUPPLY 1H with results into breakout. Further retesting pull-back zone at yellow doted... but if you see observe bearish CUP & HANDLE zone have being leading to frequent breakout upto @648.
Points to be Note (Technical + Fundamental)
1. Nifty Pharma is in accumulation phase with rising wedge which lead SUNPHARMA in upcoming days.
2. Positive: sales has been decreased by 6% but reserves & surplus is increased fairly.
3. On june 2,2021 Sunpharma has overtake its Subsidairy Swiss drugmaker Ferring Pharmaceuticals for producing one of the main pharma product of Swizz under Sunpharma chain. Due to this company standalone profit will be increased. NSE:SUNPHARMA

Let me know in comment what's your views?
Trade active: Price has been bounce up to the daily 1H support of dotted (yellow line) in last session as well as to current in upcoming session target is of MAJOR supply of @700

PRO Tip: Don't sell frequently at 700 wait for a accumulation (consolidation) after forming a 2 channel of support either H.H or L.L set stoploss and wait for to hit the @715 level.


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