Sunpharma -Bingo! "Z-Wave Fall from 700 to 432" - Butterfly Help

Can Butterfly Support ?

It could be too early to suggest whether Z-wave is completed or takes another complex form itself but yes butterfly can help to give some relief next few days

Long Term Analysis
We need move above X-factor@732 - Double Top which will suggest that correction is done & out & we will be looking for all greens in pharma sector.

Previous Update - Z Wave Fall in place@432 from 700 Levels.

Trade active:

13:22 Hrs 16th Aug2017

Last Price@482

Opens in 470-473"s & had pushed upside so far but not happy with this choppy move upside & shall be cautious downside.

Trade active:

14:42 Hrs 16th Aug2017

Last Price@484

Now we will take a break & join back only above 485. Enjoy!

Trade active:

07:46 Hrs 17th Aug2017

Last Price@485

Below 485 - We are not interested & look for re-entry in 470-475 Zone. Which needs to be checked once we get markets moving.

Trade active:

14:03 Hrs 17th Aug2017

Last price@484

If it holds next couple of hours in the range 475 to 485 then likely we see sunpharma jumping or bouncing to 510-515 Zone where we likely exit next. In betweet there is gap zone close to 495 - keep a watch for the same as gap zones can act as next resistance.

Trade closed manually:

13:02 Hrs 18th Aug2017

Last Price@471

Gap Zone 490-495 has shown resistance & it could not cross the same.

Infosys was the culprit for the day falling 100 points.