SUNPHARMA DESCENDING TRIANGLE ON DAILY CHANNEL ON WEEKLY

Dec 20, 2017

-THE STOCK IS SEEING SELLING PRESSURE FROM THE TRENDLINES
-HAS CRUCIAL SUPPORT @515(FOR SHORT-TERM)
-NOW IF RSI CLOSES ABOVE 52 IN NEAR FUTURE ASSUME THIS THAT THERE WILL BE A UP SIDE BREAKOUT
-THIS IS HOW WE WILL PICK OUR TRADE IN LONG RUN
-BECAUSE WE HAVE A DESCENDING CHANNEL ON WEEKLY CHART WHICH IS A STRONG ONE(MORE THAN 4 TOUCH POINTS ON EACH SIDE)
-I HAVE NOT EXPLAINED THE WEEKLY CHART
DAILY CHART

WEEKLY CHART

PLEASE NOTE:-
-PHARMA STOCKS ARE NOT BOUNDED BY EXPECTED NEWS,,,,,,
-THIS SECTOR IS PRONE TO HAVE IN-FACTORED INFORMATION WHICH CAUSES HIGH VOLATILE MARKETS.....
FOR E.G US FDA INSPECTION DRUG APPROVE ETC.
TRADE VIEW FOR SWING TRADERS
SHORT @525
STOP 550
TARGET 515-500-490

Dec 20, 2017

Trade active

HOLD YOUR POSITION

Dec 21, 2017

Trade active