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NeeteshJain
Mar 1, 2017 4:03 AM

SUNPHARMA - RESISTANCE BREAKOUT Long

BSE:SUNPHARMA60
SUN PHARMACEUTICAL INDUSTRIESBSE

Description

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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

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Comment

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5 points away to reach the Target. Regards

Comment

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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

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Target was reached at Gap up initially and then it went down to previous resistance levels, which is now acting as support zone. Regards
SUNPHARMAbreakout
Comments
VikasChhatwal
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Awesome, I have been holding this for sometime now..
NeeteshJain
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@VikasChhatwal, Keep holding it shall reach to 700 levels. Regards
smart-money
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@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..
NeeteshJain
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@smart-money, It will reach to the 700 and above levels as it closed above the resistance levels. Regards
anishg86
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Do u think Sun Pharma will touch 700 again ?
smart-money
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@anishg86,
I think it's going to fall down to the 645-650 price band in days to come....
NeeteshJain
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@anishg86, Yes, if it holds above 670 levels. Regards
asif06542
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sir, which timeframe should i use for short term trade, like for 1-2 weak..
Thank You..
NeeteshJain
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@asif06542, Monthly, Weekly and Daily Chart. Regards
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