NeeteshJain
Long

SUNPHARMA BUY SETUP (RISING THREE METHOD PATTERN)

BSE:SUNPHARMA   SUN PHARMACEUTICAL INDUSTRIES
It is been observed on the daily chart that the price action firstly breaks above the downward trend line on daily chart indicating a strong bullish move. Then, it retraced back to the downward trend line with three candles hiding behind the big green candle. This is also indicative of the possible "Rising Three Method" formation. Overall, it is indicating a good buy setup at current levels.

Target1: 680

Target2: 700

Stoploss: 640

Trade shall be active once the price action goes above 662 levels.

Regards
Trade active
Trade active

Comments

Thanks for sharing.
+1 Reply
can i enter this trade
+1 Reply
NeeteshJain Rushabh95
@Rushabh95, You can enter the trade once the price action breaks and closes above 690 levels. I was expecting a Rising Three Method but it did not happen. It is still trending down. Regards
Reply
Hopefully it starts it's upward journey from tomorrow
Reply
rakefree AvinashDesai
@AvinashDesai,

Daily-

Weekly-
Reply
NeeteshJain rakefree
@rakefree, I appreciate your sharing and analysis. Regards
+1 Reply
NeeteshJain AvinashDesai
@AvinashDesai, It will start its up journey once it breaks and closes above 690 levels. Regards
Reply
Since this has fallen below the stop loss today, should we exit?
Reply
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