NeeteshJain

SUNPHARMA - RESISTANCE BREAKOUT

Long
BSE:SUNPHARMA   SUN PHARMACEUTICAL INDUSTRIES
773 views
13
It is been observed that the price action breaks above the resistance levels, now it shall move to 700 levels.

Target 700

SL 680
Trade active
Comment: 5 points away to reach the Target. Regards
Comment: Good time to re-enter as the price action retesting the resistance zone and now creating it as a support zone. Regards
Trade closed: target reached: Target was reached at Gap up initially and then it went down to previous resistance levels, which is now acting as support zone. Regards

Comments

Awesome, I have been holding this for sometime now..
+1 Reply
NeeteshJain VikasChhatwal
@VikasChhatwal, Keep holding it shall reach to 700 levels. Regards
Reply
smart-money NeeteshJain
@NeeteshJain,
I think it's a false breakout and a lot of distribution is taking place at the current price levels.May fall down from the CMP..
Reply
NeeteshJain smart-money
@smart-money, It will reach to the 700 and above levels as it closed above the resistance levels. Regards
+2 Reply
Do u think Sun Pharma will touch 700 again ?
Reply
smart-money anishg86
@anishg86,
I think it's going to fall down to the 645-650 price band in days to come....
Reply
NeeteshJain anishg86
@anishg86, Yes, if it holds above 670 levels. Regards
Reply
sir, which timeframe should i use for short term trade, like for 1-2 weak..
Thank You..
Reply
NeeteshJain asif06542
@asif06542, Monthly, Weekly and Daily Chart. Regards
Reply
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