manavtechresearch

SUNPHARMA DESCENDING TRIANGLE ON DAILY CHANNEL ON WEEKLY

NSE:SUNPHARMA   SUN PHARMACEUTICAL
-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
Trade active: HOLD YOUR POSITION
Trade active
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