Head and Shoulder in Sun Pharma (09/05/23)

Perfect Head and shoulder break down can be there in the Sun Pharma stock. It is trading around the neck line.

Sun Pharma is in the sell zone, as the market has retest the recent 50% fib levels.

This stock never fails to respect the fibonacci levels.

It has been consolidating and on the daily charts it has formed a gravestone doji. Stock is near it 200 DMA and if it breaks down below the zone the moving average will also be passed.

Stop loss and target levels are provided in the chart itself.

Wait for the price action near the price levels before entering the markets.


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