SUNPHARMA BULLISH MOMENTUM - ABCD PATTERN AND CHANNEL BREAKOUT
Sun Pharmaceutical Industries Ltd. is an interesting chart with following
1. RSI on all time frames above 60
2. Narrowing Bollinger Bands on Weekly chart and Price moving on upper Bands on daily charts
3. ABCD pattern under formation on weekly charts
4. Breakout of consolidation channel of 1380-1640 with rising volume.
5. Cluster of moving average supports in 1540-1580 zones
FUNDAMENTALS:
Company has reduced debt.
Company is almost debt free.
Company has delivered good profit growth of 23.4% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 46.6%
Can be a good risk reward to buy on dips and dips only near supports
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
1. RSI on all time frames above 60
2. Narrowing Bollinger Bands on Weekly chart and Price moving on upper Bands on daily charts
3. ABCD pattern under formation on weekly charts
4. Breakout of consolidation channel of 1380-1640 with rising volume.
5. Cluster of moving average supports in 1540-1580 zones
FUNDAMENTALS:
Company has reduced debt.
Company is almost debt free.
Company has delivered good profit growth of 23.4% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 46.6%
Can be a good risk reward to buy on dips and dips only near supports
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
Disclaimer
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